Głos Polic

Transkrypt

Głos Polic
jjj!Zf%'!c_
Cb_\VX
WbWTgX^:bfhFmVmXV\Śf^\XZb
C\ĻgX^%,_\cVT%#$)
8ZmX`c_TemUXmcTgal
CTTVbWmlf^TU_Tf^
Abj\jTŧV\V\X_XcTTVhjFgb_Vh`‰j\Ļbfjb\V[
c_TaTV[jbUXVmTUlg^h6MLG4=FGE!'
9BG!4A7EM8=FM>B6><
9BG!F854FG<4AJBBFM
CTegaXemljlWTa\T
Ģ_TWlcbge‰]aXZb
mTU‰]fgjTcebjTWmĻ
Wbcbj\Tghcb_\V^\XZb!
MXmaT]Xbgl`ŧj\TWX^
6MLG4=FGE!$(
J\ňVX]iFGE!&
jJlfgTegbjT_\jfbUbgňmCb_\V!JVmjTegX^Ul_\aTfcbg^Ta\hmcTc\XżX`9eTaV\fm^\X`! Jfmlfg^bcbfmbmZbWa\Xm
c_TaX`!JU\XZ_\ŧ`laT^eT^bjf^\X5ba\TcbZbWm!$'!BZbWm!$*hVmXfga\Vml_\ŧ`ljaTUbżXŚfgj\XmcTc\XżX`9eTaV\fm^\X`
`‰j\J\XfTj>bgTef^\^\Xebja\^c\X_Zeml`^\! A\XUlbfmTafaTfcbg^Ta\XbfbU\fgX!9\ZheTŧj!=TaTCTjT<<^g‰eĻ
`\X_\ŧ`lcbWTebjTľB]VhĢj\ňgX`hmbfgTa\XceTjWbcbWbUa\XjJTWbj\VTV[jWb`hebWm\aal`aTfmXZbĢj\ňgXZb
9BG!@4E8>=4FM6MLĖF><
6mjTegTc\X_Zeml`^TU\XZbjT
#%""fgebaT
#%""glZbWa\^
7EH:4FGEBA4
BWeXWT^gbeT
@TeX^
=TfmVmlŚf^\
ZeT`‰jT`YXgT`\almaT_Xm\babh$, _Xga\XZb`\Xfm^TŚVTCb_\V!ATe^bgl^\maT_Xm\babjgeT^V\X^bageb_\]XWaXZbmfT_ba‰j
Z\XeaTgXeXa\XCb_\V!HjTZňcb_\V]Tag‰jceml^h`bWl`ňżVmlmaT^g‰elaT\V[j\Wb^aXejbjbbWemhV\Yb_\bjljbeXVmX^
mmTjTegbŧV\ĻU\TXZbcebfm^h!$, _TgX^mbfgTmTgeml`TalhflfmTmTemhgcbf\TWTa\TaTe^bgl^‰jcemlmaTf\ň
WbmTemhVTaXZb`hVmlah\mbżljl]Tŧa\Xa\TjfceTj\X!A\X]Xfggbc\Xejfml^baY_\^gmceTjX`mTgeml`TaXZb$,_Tg^TUlba
jcemXfmbŧV\^TeTalmTcemXfgňcfgjT!GXeTmmTcbf\TWTa\XaTe^bgl^‰jZebm\`h^TeTaTjXgWb&_TgcbmUTj\Xa\Tjb_abŧV\
9BG!6E84G<I86B@@#AF
=
5eTjbW_T
TeVl`\fgemT
>\e\FghcT^TeVl`\fgem
m5\Tbehf\mjlV\ňżl
jKKK<@X`be\T_X
FmTV[bjl`\`!G!:a\bgT!
JfmeTa^\fgTaňb%*ZeTVml
mCb_f^\A\X`\XV5\Tbehf\
H^eT\al\Ebf]\!7ehZ\X
`\X]fVXmT]Ļ@\^[T\_
@bm[TebimEbf]\T`\X]fVX
gemXV\X5Tegb`\X];XUXe_T
mCb_f^\!AT]_Xcfml`
cb_\VmTa\aX`mbfgT
Gb`TfmGb^TeVml^!
9BG!@4E8>=4FM6MLĖF><
J
)
j?\a\TWm\TTcemXmVTXjT^TV]XjWa\cbjfmXWa\X\Wa\ŧj\ĻgXVmaXfbUbgla\XWm\X_X\ŧj\ňgTaTgeTf\X
Cb_\VXBf\XW_X6[X`\^ Cb_\VXElaX^ =Tf\Xa\VTCňg_T GemXU\XżCňg_T!ATgeTf\Xjfmlfg^\XcbmbfgTX
cemlfgTa^\fĻÂaTżĻWTa\Xµ!?\a\T^hefh]Xj^\Xeha^hGemXU\XżljWa\cbjfmXWa\Xb$#TjWa\
ŧj\ĻgXVmaXb$#\$$-&#!>heflcbjebgaXjWa\cbjfmXWa\Xb$+-&#TWa\ŧj\ĻgXVmaXb$*\$+!&#
>T_XaWTe\h`%,_\cVT
Ebm`bjT
$)+&
mTfc\eTagX`
@TZbemTgĻ?\gj\am
>b`XaWlCbj\TgbjX]
Cb_\V]\jCb_\VTV[
g^e‰_=Ta<<<FbU\Xf^\jlehfml
aTVmX_XTe`\\m>eT^bjTcbWbU_X
ZTalcemXmGhe^‰jJ\XWXŚ!
$,%$
9BG!7B5E4
gjCe‰fm^bj\X^bbBcb_TmTabgb
jTabaT]jlżfmĻgX`cXeTgheňj[\
fgbe\\aTgXeXa\XbUXVaX]Cb_f^\
'#%“6
$,&+
gmTbżbabMj\ĻmX^>lab_bZ\Vmal
jCb_fVX
$,''
gMj\ĻmX^CTge\bg‰jCb_f^\V[jl
fgbfbjTTcX_cemXmeTW\b`bf^\Xj
f^\XWb_hWabŧV\JTefmTjlbebmcb
VmňV\XcbjfgTa\TcemXV\j^bA\X`
Vb`!>b`ha\^TglUňWĻVXcbjg‰
emXa\X`gX]ThWlV]\aTWTjTTgT^żX
VmgXeb^ebga\X&#_\cVTjZbWm\aTV[-
$(-##%#!((%$-((\%&-##`b
f^\Xjf^TETW\bfgTV]T\`!GTWXhfmT
>bŧV\hfm^\!
$,*(
g:XeT_W9beW]T^c\XejfmlceXml
WXagHF4bWj\XWm\Ulla\X`\XV^\
bU‰m^baVXageTVl]al4hfV[j\gm
5\e^XaTh
B`Tljbfa\X
cbgeĻV\c\XfmlV[
FgeTża\VlZ`\aa\m7bUeX]
cemX]XżWżT]ĻVcemXm
F^TeU\`\XemlVXcemXchŧV\_\
aTcemX]ŧV\hW_Tc\XfmlV[^b
U\Xgňmj‰m^\X`beTm%Wm\XV\!
MThjTżl_\aTW]XżWżT]ĻVl
mUTeWmbWhżĻceňW^bŧV\Ļ
bWfgebal@\XemlaTcb]TmW!
Cb]TmWjbZ‰_Xa\Xmjb_a\
^bU\XgTmTgeml`TTf\ňceT^
glVma\XaTŧebW^hcemX]ŧV\T
b^bb$`XgeTcemXWcemX]Xż
WżT]ĻVl`cb]TmWX`!=4FM
47E8FE874>6=<
*$ +*(FmVmXV\ah_!AbjlElaX^&
jjj!Zf%'!c_
eXWT^V]T!Zf%'3cb_f^TceXff!c_
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
C_TżbjT_\a\T
Gba\Xmjl^l
jlVmla
XfgX`cbWjeTƁXa\X`
jlVmlah$)c\X_Zeml
`‰j^g‰emlcemXU\XZ_\
$&##^\_b`Xge‰jaTfcbg^Ta\X
j>eT^bj\X!GemXUT`\XŃ
jfbU\Xj\X_X[TeghWhV[TƁX
UlmeXmlZabjTŃmjlZbWaXZb
f\XWmXa\TjWb`h\mWXVlWb
jTŃf\ōaTjlceTjō!CbWm\
j\T`!
T^TV]XjcXa\T_X`b
ƁXmaT]Wm\XV\XWebWml
6mlgX_a\VlgebV[ōVmTfhƁXUl
cemXVmlgTŃaTfm`\Xf\ōVma\^!
MTjfmXfgTeT`lf\ōUlŃaTU\X
ƁŀVbm\aYbe`TV]T`\mcbj\Tgh
cb_\V^\XZb!7m\ō^\mW]ōV\b`
FXUTfg\TaTJbbfmT`bƁX`l
mT]emXŃWbŬebW^TflaaXZb
cTTVhjFgb_Vh!GbemTW^T
b^Tm]T!J\TWb`bƁXmmTUlg
^\X`UōWm\X_Xc\X]!Abj\
jTŬV\V\X_XmTcbj\XWm\X_\eX
abjTV]ōbU\X^gh!CbmTgl`
cemlcb`\aT`lbmU_\ƁT]ŀVX]
f\ō*#!ebVma\Vlcb_f^\V[Cb_\V
\cb^Tmh]X`lmW]ōV\TmgXZb
b^eXfh!ļlVmō`\X]_X^ghel!i
CTegaXemljlWTa\T
E874>GBEA46M8?AL
:BFH7M<8AA<>CB@BEM4
>emlfmgbYATňVmgX_!(,+'+ +$ ##
^emlfmgbY!aT_XVm3cb_f^TceXff!c_
Jl]XżWżT`laTjT^TV]XmbfgT
j\T`l`\Xfm^Ta\XUXmbc\X^\!Gb
b^Tm]TW_TmbWm\X\!BVml`cb
j\aa\ŧ`lcT`\ňgTľUlfcb^b]
a\XbWcbVmljTľ2
>\XWl`lbWcbVmljT`lmb
Wm\X]XceTVh]ŀfmVmXZ‰_a\X
V[ōga\X!=T^f\ōhfgemXVcemXW
j\mlgŀa\XcebfmbalV[ZbŬV\2
@bƁaTmT`bagbjTŃjlfb^\X]
^_TflWemj\mXjaōgemaX^T
`XeljWb`hVmlgXmUXgbab
jl`hejb^‰a\XZb!=XWaT^
a\X`Ta\VcbaTWmThYTaXZb
fŀf\TWT!Jl]XƁWƁT]ŀVcb\aYbe
`h]`lZb!CbcebŬ`lbflfgX
`TglVmaX^bageb_bjTa\X
`\Xfm^Ta\TbmjeTVTa\XhjT
Z\aTa\XVbWm\XaaXbWZbfl
WbV[bWmŀVXm^_Tg^\fV[bWbjX]
Vmlm`\Xfm^Ta\TUljceml
cTW^hmThjTƁXa\TcbWX]emT
MTcebfmXa\X
9BG!>CCCB?<68
alV[bf‰UjcbU_\ƁhaTfmXZb
_b^T_hcbj\TWb`\cb_\V]ō!
BchfmVmT]ŀVaTWhƁX]`\Xfm
^Ta\Xa\XmbfgTj\T]`lj\WbVm
alV[bmaT^fjX]a\XbUXVabŬV\!
JlfgTeVmlcbcebf\Ńfŀf\TW^ō
UlcbW_XjTT^j\Tglbgj\XeT
TaT^e‰g^bb^aTj\XVmbeX`
jŀVmTTaT]T^\ŬVmTfŬj\Tgb
j^hV[a\_hUj^g‰el`Ŭmcb
^b\!5TeWmbWbUel`jlmaTVm
a\^\X`aTfmX]a\XbUXVabŬV\
]Xfgf^emla^TcbVmgbjT-cXaT
^beXfcbaWXaV]\gbmaT^gXZb
ƁXZbfcbWTemXfŀa\XbUXVa\!
CbcebŬ`lbjl]`bjTa\X_\
fg‰jmXf^emla^\!6mljTegb
V[jT_\ľf\ňaTcbegT_TV[
fcbXVmabŧV\bjlV[bgl`żX]X
fgXŧ`laTjT^TV]TV[2CemXV\Xż
gbgXż\aYbe`TV]TW_TeTUhf\‰j!!!
JfmXV[bUXVaT`bWTaTTY\
fmbjTa\Xf\ōgl`Vb`T`l
\]T^WT_X^bmTZeTa\Vŀ]XfgX
Ŭ`lZ‰ja\XaTcbegT_TV[
\agXeaXgbjlV[]XfgmZhUaT!
5ōWŀVj6[bejTV]\aTjVmT
fTV[jlflT`lmW]ōV\Tmbc\
fX`mcbWc\fX`!6[jT_\`l
f\ōƁXcbUlgcemXWhƁT`l
b^b_X]aXWa\Ub]XfggT^
jfcTa\T_X!CbWT]X`lf\ō
aTgTVlmbWm\X]bj\!4]XƁX_\
]XfmVmXaTjVmXŬa\X]fmlV[
mW]ōV\TV[cb^TmT_\f`lfjb]X
`\Xfm^Ta\XVmlWb`\b^b_\Vō
gba\XWm\j`lf\ōcbgX`ƁX
cTW_\Ŭ`lbY\TeŀcemXfgōcfgjT!
EBM@4J<4
@4E8>=4FM6MLĖF><
FM89B77M<4HFM6M86<A
E8>?4@4
LabaT;hfT\` FbUXV^T
8jTķX_Tm^b
gX_!,$'+$&&$$
XjT!mX_Tm^b3cb_f^TceXff!c_
labaT!fbUXV^T3cb_f^TceXff!c_
gX_!(##&%'%'#
JL74J64Cb_f^TCeXffFc!mb!b!
5<HEBB:BFM8Ė
B!>bfmT_\a*( ##'>bfmT_\a
E874>GBEB7CBJ<87M<4?AL
FmVmXV\ah_!AbjlElaX^&
h_!@\V^\Xj\VmT%'jjj!Z^%'!c_
<7M<8AA<>4EM
gX_!,$'+$&&,%
@TeX^=TfmVmlŚf^\
CE8AH@8E4G4
CE8M8FB77M<4H
gX_!,$'+$&&()
gX_-,'&'*&(&*
C\bge:eTUbjf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
g@B>Cb_\VXmTceTfmTaTaTaTh^ň
ZelaTZ\gTemX!MT]ňV\TTWeXfbjTaX
fĻWbWm\XV\`bWm\Xżl\WbebflV[
aTe‰żalV[cbm\b`TV[mTTjTafb
jTa\T!MT]ňV\TUňWĻcebjTWmbaX
jYbe`\X\aWlj\WhT_alV[_X^V]\
gejT]ĻVlV['(`\a!JgeT^V\XmT]ňľ
]Xfg`bż_\jbŧľaTh^\aTZ\gTemXX_X^
gelVmaX]T^hfglVmaX]\^_TflVmaX]!
=XWXagheahfbUX]`h]XVmgXel\aWl
j\WhT_aXfcbg^Ta\Tcb'(`\a!
C\Xejfmlgheahf%Wb$$f\Xeca\T
\WehZ\gheahfbW$)Wb%(f\Xeca\T!
>bfmghWm\Thj]XWal`gheahf\X
jlabf\$*#m\]XfgcTgalc\XejfmX
ZbWa\TmT]ňľhcebjTWmĻVXZb!
gAT]`bWfmTcTeTY\Tjcbj\XV\X
cb_\V^\`-c!j!ATebWmXa\TAT]ŧj\ňg
fmX]@Tel\CTaaljA\X^bŚVmlVlmT
ceTfmTWbhWm\ThjjT^TVl]alV[
^baVXegTV[!&#_\cVTbWUňWm\Xf\ň
fcbg^Ta\X`hmlVmaXÂ@hml^TTe
ZXaglŚf^T\YeTaVhf^Tµ*f\Xeca\T `hml^Tfbj\TŚf^T!AT%$f\Xeca\T
mTc_TabjTabfcbg^Ta\XÂC\ň^ab
`hml^\^_TflVmaX]µ!J^baVXeV\X
jlfgĻc\Ļ`hmlVl9\_[Te`ba\\FmVmX
V\Śf^\X]!=4FM
7EH>Cb_f^TCeXffFc!mb!b!
h_!Fbj\TŚf^T&T>bfmT_\a
CEB=8>G:E49<6MAL
Gb`Tfm5bV[XŚf^\
p h`\XfmVmXa\XgT^\V[Wj‰V[maT^‰jceml4egl^h
_XjfmVmXZ‰_abŧV\ceml4^ghT_al`4egl^h_XbmaTVmT
`bż_\jbŧľ]XZbWT_fmXZbebmcbjfmXV[a\Ta\Tgl_^b
\jlĻVma\Xcbh\fmVmXa\hbcTglmZbWa\XmVXaa\^\X`
mT`\XfmVmbal`aTfgebaTV[jjj!Z^%'!c_"geXfV\
jjj!Zc%'!c_"geXfV\jjj!Zf%'!c_"geXfV\\jmZbWm\X
mcbfgTabj\Xa\T`\a\a\X]fmXZbeXZh_T`\ah!
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
CTegaXemljlWTa\T
CB?<68 CEB@B6=4
CEB@B6=4
fgebaT""#&
glZbWa\^""#&
#'""fgebaT
#'""glZbWa\^
CTegaXemljlWTa\T
JL74EM8A<4
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
CTTV\cTe^`T]ĻbWmlf^TľWTjaĻ
ŧj\Xgabŧľ!C_TalfĻT`U\gaX
g7Tjal`T]ŀgX^ebWhET`\a‰jmabjh
ebm^j\ga\Xgl`eTmX`ghelfglVma\X
gAbj\jTŬV\V\X_XcTTVhcemXWfgTj\_\fjb]X
c_TalaTaT]U_\ƁfmX_TgT!ļlVml`lcbjbWmXa\T
Fgb_XV
jCTTVmWXVlWbjTa\X_Xc\X]jlZ_ĻWTmmXjaĻgemZWm\Xj\WTľŧ_TWlŧj\XgabŧV\UhWbj_\\bZebWh
jGhżbUb^cTTVhmaT]Wh]Xf\ň]Xm\bebFgb_f^b!GXż^el]Xfjb]XgT]X`a\VX
aT`\X]fVXjl^TW‰j^baYXeXa
V]\\mT]ōŃjTefmgTgbjlV[W_Tfgh
WXag‰j\^TWel!
=XfmVmXjVmXŬa\X]cTTVUlc_T
V‰j^ŀJb]f^BV[ebalCbZeTa\
VmTTcba\V[FgeTƁl:eTa\VmaX]!
F‰j^\_^Tb[\fgbe\\
5Teb^bjŀeXmlWXaV]ōjFgb_Vh
mUhWbjT j _TgTV[ $*%$ %*
=‘eZXa5Xea[TeWibaET`\a!MX
fc‰ cTTVbjb cTe^bjl gb
Wm\T^T`\XemŀVTcbaTW$&&[T
cTTVbcbj\XemV[a\cbaTW$(
glf!`Xge‰j^jTWeTgbjlV[ZT
eTƁ `TZTmla! CTTV _XƁl
aTjma\Xf\Xa\hgTeTfbjbbcTWT
]ŀVl`jfgebaō]Xm\beTFgb_f^b!
JaōgemXcTTVhceTj\XVT^bj\
V\X]XfgcbmUTj\baXbelZ\aT_aX
ZbjlcbfTƁXa\TmTV[bjTlf\ō
gl_^bbmWbUaXWōUbjXfV[bWl
beTma\X^g‰eXfmgh^TgXe\X\c_TYb
al!ATgl`cTaba\X[XeUlWTj
alV[jTŬV\V\X_\ibaET`\a‰j
WjTgTeTalWbUhemXa\T`h
e‰jjeTmmelVXef^\`\[X`T`\!
JXjfV[bWa\X]cb_f^\X]VmōŬV\
cTe^hjlfgōch]ŀZeTUlŬj\Xe^\
_\cl \ cb`a\^ cemlebWl · V\f
Ç5Tea\`ºbbUjbWm\Xca\T%,#
V`!<agXZeT_aŀVmōŬŃmTbƁXa\T
9BG!F854FG<4AJBBFM
jAbj\jTŧV\V\X_XcTTVhjFgb_Vh
9BG!F854FG<4AJBBFM
CbW^ba\XVVmXejVTbWUlTf\ō
ceXmXagTV]TabjlV[jTŬV\V\X_\
mXfcbhcTTVbjb cTe^bjXZb
jFgb_VhZ`!7bUeT!CTşfgjb
M\`a\VVlmT`\XemT]ŀhfmTab
jTŃ[\fgbe\ōgXZb`\X]fVTTmT
eTmX`meXT_\mbjTŃabjlcb
`lfaTjl^bemlfgTa\XghgX]
fmlV[bU\X^g‰j!
·6[VX`lcbWWTŃUhWla^\
ZehagbjaX]eXabjTV]\cemlje‰
V\Ń\V[fgTac\Xejbgal\fgjbemlŃ
\mUōcT`\ōV\cbŀVmbaŀm`\X]
fVX`^h_ghelW_T`\Xfm^TşV‰j
eXZ\bah·`‰j\ŀ@TemXaT\7T
a\X_ M\`a\VVl jTŬV\V\X_X! ·
Jc\Xejfml`XgTc\XmT`\XemT
`ljleX`bagbjTŃWTjaŀfgT]
a\ō\UhWlaX^cb`bVa\Vmlgmj!
`TŀfgT]a\ō!ATfgōcalXgTcgb
eXabjTV]T cTTVh ^g‰eT mX
jmZ_ōWhaTceTVXceb]X^gbjX
cbgejTb^bbeb^h!CemXWaT`\
bZeb`ceTVl!
Bgl`a\XgemXUTcemX^bal
jTŃV[bV\TƁmmXjaŀgemeXml
WXaV]TjlZ_ŀWTVT^\X`WbUemX
gbjŬebW^hj\WTŃƁXUhWlaX^
jl`TZTZXaXeT_aXZb\aTglV[
`\TfgbjXZbeX`bagh!JaōgemT
cTTVhfŀcbmUTj\baX[\fgbelVm
aXZbjlZ_ŀWhaT^belgTemTV[
Wb`\ah]X_T`cXe\TcT`\ōgT]ŀ
VTVmTflCE?!Abj\ZbfcbWTemX
V[VŀaTj\ŀmTŃ^bagT^gmWTjal
`\jTŬV\V\X_T`\bU\X^gh!
·6\ōƁ^bWbgemXŃT_Xj\X`l
ƁX`T]ŀWb^h`XagTV]ōjaōgem
m_TgWjhWm\XfglV[\gemlWm\X
fglV[hU\XZXZbj\X^h·`‰j\ŀ!
Jc\Xejfml`XgTc\X`TUlŃbW
gjbembaTWTjaTfgT]a\T^g‰eT
`TUlŃcbWjlƁfmbaTWbgemXV[
^baWlZaTV]\!5ōWm\XghmTc_XVmX
ghelfglVmaX\VXageh`\aYbe`T
V]\!
ETWbŬV\mcemX^TmTa\TcTT
Vha\Xh^eljTfgTebfgTcb_\V^\!
· @T` aTWm\X]ō ƁX Wbfmb
WbfmVmōŬ_\jXZbY\aTh\j^bşVh
gbjfcTa\TX`\X]fVXmaT_Tmb
aTUljVō!@bZōmTWX^_TebjTŃ
jfc‰ceTVō · `‰j\ 4aWemX]
5XWaTeX^fgTebfgTcb_\V^\!
7bgX]cbelbU\X^ga\X`\T
WbUeXZbZbfcbWTemT!CbcemXWa\
jTŬV\V\X_Ha\jXeflgXgFmVmXV\ş
f^\a\XmTUXmc\XVmlcTTVhW_T
gXZbbU\X^gh_XZWXjTfgTV]\!
4 `\Tb UlŃ gT^ c\ō^a\X!
JVmXejVh%##,eb^hcTTVmb
fgTcemX^TmTaljlƁfmX]hVmX_
a\!GTmTŬ`\TTmTZbfcbWTeb
jTŃbU\X^gaTVX_XchU_\VmaX!
HVmX_a\TV[V\TTjl^bemlfgTŃ
mXfc‰ cTTVbjb cTe^bjl
9BG!F854FG<4AJBBFM
@TeX^=TfmVmlŚf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
fgTabj\mXfc‰VXZ_Tab ^T`\Xa
alV[\VmōŬV\bjbelZ_bjlV[Uh
Wla^‰j`\Xfm^T_alV[mWb
`X`emŀWVl\\ajXagTef^b Zb
fcbWTeVmlV[ cbV[bWmŀVl
mKI<<<j!fgT]a\Tm$*&'\bUbeT
m$*&(\cemXb`hK<K"KKj!
A\XjlcTWTgXƁmTcb`\aTŃ
bebWm\XET`\a‰j!Jeb^h$(('
j\XŬmbfgTTfcemXWTaTfm_TV[
V\Vb`ibaET`\a^g‰emlm`\X
a\_\]X]aTmjōaTFgb_mXaUheZ bmaTVmT]ŀVŀjla\bflmT`X^!
JVmXŬa\X]Ulgb5_Ta^XaUheZ!
GXafgTel\UbZTgla\X`\XV^\
e‰W fm_TV[XV^\ j K<<< j\X^h
cemlUlmFT^fba\\aTCb`bemX
\fmlU^bfgTf\ō]XWal`maT]cb
gōƁa\X]fmlV[!<fga\X]X^\_^Tƀe‰
WXaTcbV[bWmXa\XebWm\alT_X
c\XejfmŀmaTaŀcbfgTV\ŀebWh
]XfgHabaibaET`\am$$++eb
^h!<aaXƀe‰WTVlgh]ŀBggbiba
ET`\a _hU Bggb ET`Ula
m^j\Xga\T$%+#eb^h!MgX]ebWm\
aljljbWm\f\ō^\_^TmaTalV[
bfbU\fgbŬV\!Cbc\XejfmX5hffb
ibaET`\am`Telj$'*%eb
^hcTa5bXV^\7TUXe^TaV_Xem
^f\ōV\Tcb`bef^\XZb^b_X]al
maT`\Xa\gl VmbaX^ ebWh gb 9e\XWe\V[ibaET`\am`Tel
j$(++eb^hcTaFgb_mXaUheZ
5bXV^ 7TUXe \ 5Th`ZTegXa
`TefmTX^aT WjbemX^e‰_T7T
a\\!>b_X]al^TaV_Xem^f\ōV\Tcb
`bef^\XZbgbBggbibaET`\a
m`Te $+ _hgXZb $)$# eb^h!
ATgX]_\ŬV\Xa\Xcbj\aabmTUeT^
aŀŃ 9e\XWe\V[T iba ET`\aT
8[eXaeX\V[T$*#, $*+%ZXaX
eTTcehf^\XZbZhUXeaTgbeTjb]
f^bjXZb5Xe_\aT>TjT_XeTBe
WXeh6mTeaXZbBeT!
6`XagTemjchfmVml
C\fmŀVbET`\aTV[a\Xfcbf‰U
cb`\aŀŃceljTgaXZba\Xj\X_
^\XZb V`XagTemT ebWbjXZb
cbbƁbaXbZjbfTWm\X:ha\VX
jŬe‰W
WemXj
ChfmVml
J^emTşf^\X]!
FcbVmljT]ŀ
aTa\`Vmba^bj\XUXmemXV^\X]
_\a\\ebWhibaET`\a!=T^cbWT
]X
4ZTgT
9eX\aWbeY
j<agXeaXgbjX]8aVl^_bcXW\\
FmVmXV\aTcb$,'(eb^hbchfm
VmbalV`XagTemmTe‰faTZebU
^\ mbfgTl cbcemXjeTVTaX!
J%##'eb^haTm_XVXa\X]XWaX
ZbmcemXWfgTj\V\X_\ebWhiba
ET`\agXeXaV`XagTemThcb
emŀW^bjTab!7m\ō^\jfcTeV\h
ATW_XŬa\VgjTGemXU\XƁcemlZeb
UTV[fgTaŀjlfb^\WeXja\Tal
^emlƁmWTfm^\X`beTmcbfTWmb
abbmWbUaX^emXjl!ATZebU^\
hfgTj\babjemōWm\XbeTmcbceT
j\babaTa\V[\af^elcV]X!
ATV`XagTemhmaT]Wh]Xf\ō(
cb`a\^‰jaTZebUalV[^g‰eX
hcT`\ōga\T]ŀ+bf‰UmebWhiba
ET`\a!AT]fgTefmlma\V[cbV[b
WmŀVlm$+''eb^hjl^baTal
mbfgTme‰ƁbjXZbfmghVmaXZb
^T`\Xa\T!CbmbfgTXVmgXelaT
ZebU^\gbZeTa\gbjXZTml!=XWXa
ma\V[CTh_TibaET`\a`Tjl
emXƀU\baŀYbe`ō^emlƁT!Jfmlfg
^\XcbmbfgTXaTZebU^\cbmUT
j\baXfŀfl`Ub_\^\V[emXŬV\]Tş
f^\X]Vbgh`TVmlf\ōgl`\Ɓ
ET`\abj\XaT_XƁX_\Wb`TfbaX
e\\!FTghaTZebU^\;Xae\XggXi!
ET`\a$*,,·$+*)J\_[X_`T
ET`\aT$*+,·$+''.CTh_Ti!
ET`\a$+''·$,%%.?hWj\ZTi!
ET`\a5ehaa$+'#·$,$$mƁbaŀ
?h\fX i! ET`\a m Wb`h i!
?hWj\ZXe
$+'#·$,%(.
8UXe[TeWTET`\a5ehaa$+**·
$,&*mƁbaŀ=b[Taaŀi!ET`\a
m Wb`h :e|Y\T i! 5e‘aaXV^
$+*+·$,($.5Tea\`TET`\a
$,$$·$,'(\]XZb`TƁba^T:h
fgTjTET`\a·:‘aa\gm$,$(·
%##*!g
p
iJ\ōVX]mW]ōŃcTTVhaT
fgeba\X)
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
CTegaXemljlWTa\T
CBJ<4GCB?<6>< CEB@B6=4
CEB@B6=4
fgebaT""#(
glZbWa\^""#(
#)""fgebaT
#)""glZbWa\^
CTegaXemljlWTa\T
9BGBE8CBEG4ķ
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
M7=Ą6<4F854FG<4AJBBFM
M7=Ą6<4F854FG<4AJBBFM
M7=Ą6<4F854FG<4AJBBFM
M7=Ą6<4F854FG<4AJBBFM
7m\ŧgT^jlZ_ĻWTmTUlgX^!@TUlľ_Xc\X]
Fgb_XV
M7=Ą6<4F854FG<4AJBBFM
GbUlT]XWaTmaT]c\ō^a\X]fmlV[
f\XWm\Ufm_TV[XV^\V[aTCb`b
emh!CemXfmTbUebaaŀeō^ŀmT
j\XehV[ōjb]Xaaŀj$,'(eb^h!
Mj\XWmTa\X jaōgemT cTTVh
\UhWla^‰jZbfcbWTef^\V[jl
`TZT bfgebƁabŬV\ Ub Tgjb
bhfmVmXeUX^aTmWebj\h!GhƁ
bUb^cTTVhaTceml^bŬV\X_al`
V`XagTemhjmabf\f\ōcb`a\^
aTZebUal=‘eZXaT5XeaWgTJ\_
[X_`TibaET`\ajTŬV\V\X_T
fgb_XV^\XZb`T]ŀg^h!ip=4FM
M7=Ą6<4F854FG<4AJBBFM
JaňgemXcTTVh]XfgjbcT^T
al`fgTa\X!BW^\XWlFgeTż
:eTa\VmaTbchŧV\TUhWlaX^
bU\X^ga\X`\TfmVmňŧV\TWb
jTŧV\V\X_\!BUlgXeTmUlb_Xc\X]
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
CTegaXemljlWTa\T
CEB@B6=4
ABJ8J4ECAB CEB@B6=4
fgebaT""#*
glZbWa\^""#*
#+""fgebaT
#+""glZbWa\^
CTegaXemljlWTa\T
JL74EM8A<4
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
CemXWaT`\YXfg\jT_U\XZbjl
gCbaTW$%##bf‰Ujgl`b^bb%##Wm\XV\jXƀ`\XhWm\TjÇ7m\^\`JXX^XaWm\Xº$, %$f\Xeca\T
g?\Vmlf\ōmTUTjTf\TcemlZbWT\fmVmōŬ_\jXmT^bşVmXa\X]XWaXZbjlUeTalV[_hUgemXV[U\XZ‰j
ATfmcTgebaTg
@TeX^=TfmVmlŚf^\
j=XfggbgeTfTbmj\ň^fmbal`WlfgTaf\Xmjl^bemlfgTa\X`
gXeXah-jĻjbm‰jUTZ\XamTcTWa\jbWalV[
fgTegh]X << Ç8^fgeX`T_al
7m\^bU\XZºbeTm<<@\fgembfgjT
Cb_f^\jU\XZhX^fgeX`T_al`
aT*(^`!
AT]`bWf\gXƁ`bZŀjm\ŀŃ
hWm\TjU\XZTV[fgTegWm\XV\
]XfgUXmcTgalT_XgemXUTf\ō
mTeX]XfgebjTŃ!CemXWfm^b_T^\
U\XZaŀaTb^!$##`^_TflFC<
<<<b^!%##`^_TflFC<I I<b^!
'## ` Z\`aTm]T_\ŬV\ `T]ŀ
Wbcb^baTa\T$`\_ō!
BeZTa\mTgbeml mWeTWm\_\
aT`ƁXaTgeTf\Xa\XmTUeT^a\X
a\XglcbjlV[cemXfm^‰W!MT
jbWa\VlUōWŀ`hf\X_\cemXU\XV
cbThgTV[UōWŀgXƁ^bagXaX
el m jbWŀ ^heglaT jbWaT
9BG!4E6;<JH@
$,f\Xeca\T\`ceXmTmbfgTa\X
bgjTegTbY\V]T_a\XI<ÇAbVal`
5\XZFm_T^\X`7m\^TºaTWl
fgTaf\X(^`ÇAbValºgba\V
\aaXZb]T^gXeXabjTcemlZbWT
cbm`eb^haTÇFm_T^h7m\^Tº!
Cb^bah]X`lgeTfōm_TgTe^T`\
bŬj\Xg_Xa\X` Vmbbjl`
TcbmT^bşVmXa\hbZa\f^bebm
cbVmlaT]ŀVX7m\^\JXX^XaW `‰j\Jb]V\XV[5bUebjf^\be
ZTa\mTgbe! %#f\Xeca\TbWUō
Wm\Xf\ōI<Ç5\XZFm_T^\X`7m\
^TºÇ@\fgembfgjTJb]Xj‰Wm
gjTFgeTƁT^‰jjU\XZhcemXT
]bjl`º<<BgjTegXÇ@\fgemb
fgjTCb_f^\FgeTƁT^‰jjU\XZh
cemXT]bjl`ºÇ7m\^\CemX
`TefmAbeW\VJT_^\aZºm`l
Ŭ_ŀbWm\XV\TV[UōWm\XmbeZTa\
mbjTalU\XZW_TWm\XV\ÇFm_T
^\X`@TXZb7m\^Tº!
%$ f\Xeca\T VmX^T]ŀ aTf
Z‰jaX X`bV]X! GXZb Wa\T
9BG!4E6;<JH@
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
jCebYXf]baT_aĻebmZemXj^ňcemXWU\XZT`\cbcebjTWmĻ\afgeh^gbe^\
m^_hUh4e^TaT9\g->TgTemlaTJT_^bj\T^\<mTUX_T5bUebjf^T
e‰jabjTƁa\TaTfceōƁlaTV[
_\al`bfgehV[b`l!5\XZTVmX
UōWŀ`hf\X_\jX]ŬŃWbÇ5h
Wla^hJb]XaaXZbºV\X`a\
cb^baTŃ jŀj‰m Z_\aō gbe mbcbaT`\ŬV\Tal%k%)`X
geT \ bWUlŃ ehaWō m ^bWŀ!
ATfjb]X]geTf\Xfcbg^T]ŀgT^
ƁXmTjbWa\^‰j;hfTe\\FmVmX
V\a!>b_X]al`jlmjTa\X`Uō
Wm\X
fgemX_Ta\X
m cT\agUT__h! J gl` eb^h
cemXWZ‰jal`\U\XZT`\Uō
Wm\XcebjTWmbaTebmZemXj^T
cebjTWmbaTcemXm\afgeh^gb
e‰jm^_hUh4e^TaT9\g->TgT
emlaōJT_^bj\T^\<mTUX_ō5b
Uebjf^ŀ!>gbjlfgTegh]X2A\X
mTUeT^a\Xjl]ŀg^bjlV[ZbŬV\
`!\a!ZXaXeTTUelZTWl7Te\h
fmT:‰ea\T^T Wbj‰WVl$%5M
fgTefmXZb UelZTW\XeT =TV^T
EhWm\şf^\mTfgōcVlMTV[bW
a\bcb`bef^\XZb>b`XaWTagT
Jb]Xj‰Wm^\XZbCTşfgjbjX]
FgeTƁlCbƁTeaX]UelZTW\XeT
@Te^T:XaW^T>b`XaWTagT
Cbj\TgbjXZbCFCjCb_\VTV[!
ATjlWTemXa\ha\XmTUeT^a\X
mTjbWa\^‰j^_hU‰jaT_XƁŀ
VlV[WbCM?4!Jgl`eb^heX
^beWgeTflV[VXcbU\Ń5TegX^
Abj\V^\ mbgl `XWT_\fgT
]ha\bef^\V[`\fgembfgj8heb
clbeTm[T_bjleX^beWm\fgT
Cb_f^\jU\XZhaT$(##`!
5\XZ beZTa\mh]X cb_\V^\X
fgbjTemlfmXa\X>_hU5\XZbjl
Ç7m\^º!BeZTa\mTgbeb`U\XZh
cb`TZT]ŀ-Cb`bemXMTV[bW
a\X$%5elZTWTM`XV[Ta\mb
jTaTfgeTƁ\cb_\V]TjCb_\
VTV[ATW_XŬa\VgjbGemXU\XƁ
:`\aTCb_\VXFgTebfgjbCb
j\TgbjXjCb_\VTV[!i
p
J\ňVX]\aYbe`TV]\TgT^żX
mTc\flaTjjj!^UWm\^!c_
MebU\]X`\fgembeZTa‰j! +#glf\ňVlm^TelW_TmT^TW‰j!Cbj‰W2
5ňWĻV\XfmlľUem`\Xa\X` A\XWbcXa\Xa\XbUbj\Ļm^‰j\aYbe`TVl]alV[
Cb_\VX
j MT^hc\baXbeZTalcemXj\XŻ_\ŧ`lWbaTfmXZb^bŧV\bT `‰j\^f\ĻWm^Taba\^JT_WX`TeFmVmhebjf^\
Cb_\VX =Tf\Xa\VT
GbWm\Xj\ōV\bZbfbjXbeZTal
caXh`TglVmaX cbV[bWmŀVX
m jTefmgTgh beZTa`\fgemT
:e‘aXUXeZT! =XfgXŬ`laTXgT
c\Xceml`\XemTa\Tf\ōWbabjX
Zb\afgeh`Xagh\bVmX^\jTa\T
aT`bagTƁ `‰j\^f\ŀWm^Tab
a\^JT_WX`TeFmVmhebjf^\ceb
UbfmVmcTeTY\\Ŭj!Ŭj!4cbfgb‰j
C\bgeT\CTjTjCb_\VTV[=Tf\X
a\Vl! BeZTalfŀ^b`c_XgaX
cbeXabjTV]\ZbgbjXWbmbƁX
a\T!CbgejTgbWhZbUba\X`T
`lc\Xa\ōWmlaT mbƁXa\X!7_T
gXZb_\Vml`laTjfcTeV\XWTe
VmlşV‰j!<aTVmX]a\XWT`leTWl!
Gl_XhWTbf\ōmebU\ŃjcTeTY\\!
@bƁXmaT]Wŀf\ō_hWm\XZbgbj\
aT`cb`‰V2
JTegbjgl``\X]fVhmTmaT
VmlŃ ƁX beZTal m jTefmgTgh
5Tea\`T:e‘aXUXeZTgeTY\Tl
cemXjTƁa\X aT Cb`bemX
\Wb@X^_X`UheZ\\T_XfcbeT
WlVma\Xe‰ja\XƁWbEbf]\\^eT
]‰j aTWUTglV^\V[ T aTjXg
aT<f_TaW\ō\Wb4Yel^\CbhWa\b
jX]!J$,&&eb^hVT^bj\gT_\Vm
UTWm\XcemX^ebVmlT$###!Be
ZTalmgXZbjTefmgTghmaT]Wh]ŀ
f\ō`\ōWml\aal`\j^bŬV\X_X
cj!ħj\ōgXZb7hV[TjFmVmXV\
a\X MWeb]TV[!<afgeh`XagmbfgT
a\Xjc\fTalhebVmlŬV\XWb eX]X
fgehmTUlg^‰jjb]Xj‰WmgjTmT
V[bWa\bcb`bef^\XZb!io
=4FM
Fc‰^Tmbc‰ƀa\Xa\X`cb\aYbe
`bjTT j %#$& eb^h elaX^
bm`\Ta\XfgTahcbf\TWTa\TT^
V]\cemXm]XWaXZbmT^V]baTe\h
fmlWbVmXZbmbUbj\ŀmTaTUlT
cemXc\fT`\ceTjT!
CbfgōcbjTa\XTW`\a\fgeTVl]
aXjbUXVfc‰^\>A9jfmVmōT
$)`T]T%#$)e!7XVlm]T>b`\f]\
\]X]hmTfTWa\Xa\XgeTY\lWbfc‰
^\$%_\cVT%#$)eb^h!
Jgb^hcbfgōcbjTa\T>A9
cbgj\XeWmbabƁXBgjTegl9ha
Whfm8`XelgT_alCMHÇMbgT=X
f\XşºaTUl)_hgXZb%#$&e!T^V]X
:ehcl4mbglCb_\VXmj\ō^fmT]ŀV
gl`fT`l`fj‰]fgTacbf\TWT
a\TT^glj‰jfc‰^\Vml`cemX
^ebVmlce‰Z(cebVXagT^V]\!
JgT^\`cemlcTW^hT^V]baT
e\hfm `hf\ cb\aYbe`bjTŃ
bm`\TaTV[mTe‰jab>b`\f]ō
]T^\fc‰^ō^g‰eX]T^V]X^hc\!
Fc‰^TmTŬa\XmjbVma\XbmT\fg
a\Tl`YT^V\Xcbj\aaTcb\aYbe
`bjTŃbc\a\ōchU_\Vmaŀjgl`
cbmbfgTlV[T^V]baTe\hfmlchU
_\^h]ŀVfgbfbjaleTcbegZ\XWb
jl! JXWhZ jXjaōgemalV[
hfgT_Xşcb_\V^\X]fc‰^\cbgj\Xe
jFc‰^Ta\XUňWm\Xf\ňbWjbljTľbWcbfgTabj\Xa\T>b`\f]\ATWmbeh9\aTafbjXZb
WmbalV[`!\a!TW`\a\fgeTVl]al
`\ TWabgTV]T`\ \aYbe`TV]T
cemXfTaTmCMHÇMbgT=Xf\Xşº
jgXe`\a\Xma\Xjl]TŬa\balV[
cemlVmlacbmbfgTjTTjeō^TV[
UlXZbceXmXfTfc‰^\>emlfmgb
YT=Tbf\şf^\XZbcemXmU_\f^b
`\Xf\ŀV!BUXValmTemŀWcbW^eX
Ŭ_TƁXa\X`TcXaX]j\XWml
aTgX`TgcemlVmlacemX^TmTa\T
\aYbe`TV]\mbc‰ƀa\Xa\X`!
>A9mTmaTVmlTjhmTfTWa\Xa\h
fjX]WXVlm]\ƁXbWcbj\XWm\T_al
mTeX_TV]X\ajXfgbef^\XWm\T:eh
cl4mbglCb_\VXbchU_\^bjTfgb
fbjaleTcbegaTfgōcaXZbWa\T
cbjcla\ōV\hWba\XZbmTj\T
Wb`\Xa\T! 9T^gƁXmTj\TWb
`\Xa\XT^V]baTe\hfmTmbfgTb
ma\XmaTalV[cemlVmlaaTjXg
cemXmcb`l^ōVmla\XWbcTgemX
a\XcemXgeml`TaXcemXm‰j
VmXfaXZbceXmXfTFc‰^\a\X`T
maTVmXa\TW_TbVXal\fga\Xa\T
aTehfmXa\TTgT^ƁXa\X]Xfgb^b
_\VmabŬV\ŀTZbWmŀVŀºjfceT
j\Xº!MWTa\X`>b`\f]\bWVmba
^‰jmTemŀWhbVmX^h]Xf\ōjl
cXa\Ta\Tfjb\V[Yha^V]\maT_X
ƁlgŀfgTeTaabŬV\ŀZbWaŀcebYX
f]baT_\fg‰j aTc\fTabj cemX
fTal`cb_\V^\X]:ehc\Xm>A9
Wb^h`XaV\X!=T^cbW^eXŬ_TmT
emŀWfc‰^\Vmh]Xf\ōbaTbWcb
9BG!F854FG<A4JBBFM
9BG!>F!J4?78@4EFM6MHEBJF><
>b`\f]TATWmbeh9\aTafbjX
ZbaTbżlT^Teňjjlfb^bŧV\
+#glf!maT:ehcň4mbglMT
^TWl6[X`\VmaXÂCb_\VXµF!4!
j\XWm\T_aTmTaT_XƁlgXjl^bal
jTa\X]X]bUbj\ŀm^‰j\aYbe`T
Vl]alV[ aTbƁbalV[ aT a\ŀ
cemXc\fT`\ceTjTela^h^Tc\gT
bjXZb\cemX^TmljTa\Xa\Xm
jbVma\X\fgbgalV[\aYbe`TV]\!
Fc‰^TWb^TWTjfmX_^\V[fgT
eTşUljlcXa\TŃgXbUbj\ŀm^\
UXmmTemhgh!
Fc‰^Ta\XUōWm\Xf\ōbWjb
ljTŃbWcbfgTabj\Xa\T>A9!
EbmjTƁlcbW]ōV\XXjXaghT_
alV[^eb^‰jceTjalV[jVX_h
WbV[bWmXa\Tmjebghcba\Xf\b
aX]fm^bWlbWbf‰UmTa\ŀbWcb
j\XWm\T_alV[!io
@4E8>=4FM6MLĖF><
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
CTegaXemljlWTa\T
E8>?4@4
fgebaT""#,
glZbWa\^""#,
9BGBE8CBEG4ķ
CTegaXemljlWTa\T
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
9BG!@4E8>=4FM6MLĖF><
$#""fgebaT
$#""glZbWa\^
jHVmXfga\VlgXZbebVmaX]XWlV]\G8>cbmbjT_\WbebWm\aaXZbmW]ňV\T!7m\Xf\Ļg^\jlWTemXŚ\fXg^\Teglfg‰j!?hWm\Xhŧ`\XV[gXTge!GT^²
gbUlG8>jlWTemXa\Xjl]Ļg^bjXebmfTj\T]ĻVXCb_\VXWb^g‰elV[jfmlfVlV[ňga\XceTZaĻcbje‰V\ľmTeb^
9BG!@4E8>=4FM6MLĖF><
9BG!GB@4FMÍ=
jJŧe‰WZbŧV\YXfg\jT_bjlV[Ul`bWm\XżbjlVle^45E4K
>4745E4Km;T`UheZT
jAT]`bWf\`bZ_\mbUTVmlľfcX^gT^_Â:eTT_µ^g‰elUl
jlfgTj\balaTc_TVh5b_XfTjT6[ebUeXZbjFgTelV[Cb_\VTV[
@TeX^=TfmVmlŚf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
CbWVmTf'Wa\9Xfg\jT_hchU
_\VmabŬŃ`\TTb^Tm]ōbUX]emXŃ
,fcX^gT^_\mCb_f^\\mA\X`\XV
^g‰eXUeTlhWm\Tj9Xfg\jT_b
jl`^ba^hef\X!JZeba\XmT
^jT_\Y\^bjTalV[Wbcb_\V^\XZb
9Xfg\jT_h maT_Xƀ_\ f\ō-
6[b]a\V^\XFghW\bETcfbWlVm
aXmXfcX^gT^_X`Eb`Xb\°º
6\eVhf 45E4K >4745E4K
m
;T`UheZT
fcX^gT^_
GeTh`U\_WXeº»9TgT`beZT
aT¼GXTge8amTmFhcf^TmX
fmgh^ŀA\XcbWbU\Xşfgjbº
Fc\aT G[XTgXe m Fb_\aZXa
m5eTaW`T_Xº»C\ōgab¼:eh
CemXWfgTj\Xa\T
e‰żabebWaX
cbWjmZ_ňWX`
cbehfmTaX]gX`Tgl^\
]T^\Ybe`l
jJb]V\XV[JlfbV^\T^gbemaTalmfXe\T_hÂETaVmbµUl
]hebeX`I<9Xfg\jT_hÂGXTgeT_aT8_\cfT>eXTgljabŧV\µ
9BG!@4E8>=4FM6MLĖF><
ATcbVmĻg^h_\cVTCb_\VT`\
mjTWaňbgXgeT_aXfmT_XŚ
fgjb!Jm\ňbja\`hWm\T
cbaTW%##Teglfg‰jmCb_f^\
\A\X`\XV
cT GXTgeT_aT >Tcelf m Tc
Bcbj\XŬV\:\biTaa\XZb5!º
g46G_bfmF\aZXamXfcX^gT
^_X`
Çg46G_bf
\`
JhaWXe_TaWº»g46G_bfj>eT
\a\X6mTe‰j¼FghW\bGXTgeT_aX
=h_\\>bgTef^\X]·EX^bfmmJTe
fmTjl m `babWeT`X` =T
f^‰^Tº
g]V
G[XTgXe]hZXaWV_hUT`?GG
mGhU\aZXaÇ>bcYib__;Xem
_XXeº»:bjTcXaTfXeVXch
fgX¼
GTşVT
4_TVTegX
mClf^bj\V\fcX^gT^_CemXa\
^Ta\Xº!ATZebWōZ‰jaŀ]heb
eml cemlmaT_\ 6[b]a\V^\X`h
FghW\h
ETcfbWlVmaX`h
m 6[b]a\V mT fcX^gT^_ ÇEb
`Xbº!ATgb`\TfgaTZebWōchU
_\VmabŬV\mWbUlfcX^gT^_Ç=T
f^‰^TºFghW\TGXTgeT_aXZb=h
_\\>bgTef^\X] EX^bfmmJTefmT
jl!Jbc\a\\]heljf^TWm\X-
Jb]V\XV[ JlfbV^\ @TV\X]
?\g^bjf^\@TeVhf=bbfbeTm
fT`lV[hVmXfga\^‰jcbm\b`
ceXmXagbjTalV[fmgh^Uljl
fb^\!CemXWfgTj\Xa\Te‰ƁabebW
aXmTe‰jabcbWjmZ_ōWX`cb
ehfmTaX]gX`Tgl^\]T^\Ybe`l!
7bWTg^bjb ]hel cemlmaTb
WjTjle‰Ɓa\Xa\T-mTfcX^gT^_
Ç>bcYib__
;Xem
_XXeº
G[XTgXe]hZXaWV_hU
G=6
m GhU\aZXa beTm ÇA\XcbWb
U\XşfgjbºGXTgeGTşVT8amT
mFhcf^T!i
p
9BG!GB@4FMÍ=
ATfmcTgebaTg
9BG!GB@4FMÍ=
GbUll'Wa\fcX^gT^_\jTefmgTg‰j
jXea\fTżl!MTaT`\I<9Xfg\jT_G8>
jATZebWňchU_\VmabŧV\bgeml`TT=h_\TFmTV[Xj\VmmTfj‰]
`babWeT`Â=Tf^‰^Tµ
jHVmXfga\VlYXfg\jT_hebmcbVmň_\I<G8>cemX`TefmX`cemXm
`\Tfgb!JeTmmmXfcbX`5_bVbCb`XeTa\TmTceTfmT_\aTYXfg\jT_
CTegaXemljlWTa\T
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
9BGBE8CBEG4ķ
fgebaT""$$
glZbWa\^""$$
JcebjTWmXa\XY\Zhel@Tg^\5bf^\X]
WjlƁfmXa\Tħj\ōgXZb>emlƁT
jGemXU\XƁl jl]TŬa\T^f!ceb
UbfmVmJT_WX`TeFmVmhebjf^\!
J ^bŧV\X_XcbWjXmjTa\X`
@Tg^T5bƁT9Tg\`f^TbU]Tj\T
ŧj!CTjT`\TT`\X]fVX
f\ōgeb]ZhWm\XV\jb^b_\Vlcbe
jl]Ļg^bjThebVmlfgbŧľ
ghZT_f^\X]`\X]fVbjbŬV\9Tg\`T
^g‰eĻcTeTY\Ta\XmTcT`\ňgT]Ļ cemXm)^b_X]alV[`\Xf\ōVlcb
aTWhZb
VmlaT]ŀVbW$&`T]T$,$*eb^h!
5l_\gb9eTaV\fmX^\;\TVlagT
@TeX^=TfmVmlŚf^\
@TegbbeTmhV]TWbfFTagbf!
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_ >bŬV\‰^Tgb_\V^\cbmUTWTa\h
jlWTemXş \ geXŬV\ bU]Tj\Xş
JVmTf\X`fmlbWchfgbjX]& hmaT\V[ThgXaglVmabŬŃj$,&#
eb^h!=hƁbWeb^h$,%*ceml
_\cVTbWUlbf\ōjcebjTWmXa\X
\h^bebabjTa\XY\Zhel@Tg^\ UljTl Wb 9Tg\`l mU\bebjX
c\X_Zeml`^\m\aalV[^eT]‰j!
5bf^\X]9Tg\`f^\X]!
Gb cb^bf\X `\f]\ J_TgTV[$,%+·$,(&j`\X]fVh
YTg\`f^\V[^g‰eXbWUllf\ō bU]Tj\Xşjma\Xf\babUTml_\^ō
jcTeTY\\jZehWa\h%#$(eb^h! @Tg^\5bf^\X]E‰ƁTşVbjX]gT`
gXƁ]XfgcbV[bjTaTge‰]^TcT
9\ZheTmbfgTThebVmlŬV\Xjceb
jTWmbaT WbŬj\ŀgla\! @\f]X fghfm^‰j!J$,)*cbaTW`\_\ba
YTg\`f^\XcebjTWm\^f!We[TU! c\X_Zeml`‰jmVTXZbŬj\TgT
hVmXfga\VmlbjX`fmlŬj\ōgX]
cebY!HF:emXZbemJX]`Taceb
VX_XUebjTaX]cemXmcTc\XƁTCT
Wm\X^TaJlWm\ThGXb_bZ\VmaX
Zb \ ]XWabVmXŬa\X Wb^baT jTI<!>TƁWXZbeb^hWbFTa^
ghTe\h`j9Tg\`\XcemlUljT
jcebjTWmXa\T\\afgT_TV]\Y\Zh
el!JVmTf\XhebVmlfgbŬV\Ul cbaTW ( `\_\ba‰j c\X_Zeml
bUXVal^f!^Taba\^@\XVmlfTj `‰jmVTXZbŬj\TgT!i
p
JWbj\T^cebUbfmVmcTeTY\\Cb
GTgla\T
9BG!4A7EM8==BA<4>
j@b`Xagcbj\gTa\TY\Zhel@Tg^\5bf^\X]9Tg\`f^\X]
jGhżcbh^bebabjTa\hY\ZhelcemXm^f!We![TU!:emXZbemTJX]`TaT
9BG!4A7EM8==BA<4>
9BG!4A7EM8==BA<4>
9BG!4A7EM8==BA<4>
jHebVmlfgTcebVXf]TmY\ZheĻcemXmGTgla\ňWb^bŧV\bT!GXaWm\XŚaTWhZbmTcTWa\XjcT`\ňV\cTeTY\Ta
j5lbVbŧW_TWhV[T\VbŧW_TV\TTVml_\YXfgla
$%""fgebaT
$%""glZbWa\^
JL74EM8A<4
CTegaXemljlWTa\T
@‰ZhŧV\f^TľUb[TgXe‰j
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
g>\XebjVTThgbUhfh\^baWh^gbefcbg^T_\f\ōm`ōƁVmlmaŀ^g‰eX`hheTgbjT_\ƁlV\XcbZebƀal`jlcTW^h
Cb_\VX
9BG!H@JCB?<646;
7bfcbg^Ta\TWbfmbaTmTceb
fmXa\X JTWlfTjT 7\T^haT
Uhe`\fgemTCb_\V!JfmlfVlgemX]
fcbg^T_\f\ōjHemōWm\X@\X]f^\`
jCb_\VTV[!CTabj\XcT`\ōgT]ŀ
gXaWm\XşV[bV\TƁWbmWTemXa\T
Wbfmb j `TeVh! Gb`Tfm
ChWbjf^\^\XebjVT\@Te\Ta
C\TfX^^baWh^gbe gXZbWa\T
ceTVbjT_\eTmX`!CTaGb`Tfm
cebjTWm\ThgbUhf?\a\\FT`b
emŀWbjX]TcTa@Te\Ta fcemX
WTjTja\`U\_Xgl!=XV[T_\j^\X
eha^hGemXU\XƁl!ATZ_XcemXWTh
gbUhfX`cb]Tj\f\ōfT`bV[‰W
bfbUbjl^g‰elZjTgbja\Xm]X
V[TaTcbUbVmX\mTVmŀ^bm\b
^bjTŃ!MTgeml`Tf\ōaTWemXj\X
^bT`\WbZ‰el!>\XebjVTjl_X
V\Tmcb]TmWh!ļlV\XmTV[bjT
Wm\ō^\\agXejXaV]\cTa‰jGb`T
fmT\@Te\TaT!BY\TeŀjlcTW^h
Ul`\Xfm^Ta\XVGemXU\XƁlFgX
YTaFabc^\Xj\Vm! Bgeml`TX`
WehZ\XƁlV\X `‰j\mXmT`\
jbVmTV[!GT^aTceTjWō bgeml
9BG!H@JCB?<646;
@TeX^=TfmVmlŚf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
jATfcbg^Ta\h->Tm\`\XemGemV\Śf^\ceXmXfFCC>@Te\TaC\TfX^FgXYTa
Fabc^\Xj\VmGb`TfmChWbjf^\beTmJTWlfTj7\T^ha Uhe`\fgem
jCTaFgXYTaWm\ň^h]XcTahGb`Tfmbj\^\XebjVlThgbUhfh
^g‰elhWm\X_Tcb`bVlcbjlcTW^h
`T]XcbeTm^b_X]alUbj`\a\b
alV[_TgTV[cemXfmXWWjTmTjT
lfXeVT!9XeT_aXZbWa\TjJ\X_
^ŀħebWō%#$)eb^hgXƁ`\Tj\X
_XfmVmōŬV\T!GT^f\ōmbƁlbƁX
^\XebjVT ThgbUhfh Gb`Tfm
ChWbjf^\ceTVbja\^FmVmXV\ş
f^b Cb_\V^\XZbCemXWf\ōU\befgjT
>b`ha\^TVl]aXZbFc!mb!b!Ul
jfmlfg^\V[! JfT`bV[bWm\XUl
^Tea\fgXeaTcT_\jb!CbVmhX`
f\_almTcTV[UXamlal!J^TƁWX]
V[j\_\`bZbWb]ŬŃWbX^fc_bm]\ `‰j\!GbUlV[bWalWƁWƁlfgl
Wm\Xş!4hgbUhfUlcXXacTfT
ƁXe‰j!CTaGb`TfmcbmTgeml
`Ta\hThgbUhfhcbcebf\cTfT
ƁXe‰j b jXmjTa\X cb`bVl
Ŭj\XƁbcb^hef\Xc\XejfmX]cb
`bVlcemXW`XWlVmaX]! 6Tl
VmTf`\TX`jZbj\XgbVmXZb
hVmbabaTfaT^hef\X!7m\ō^\gX]
j\XWml`\TX`j\ōVX]cXjabŬ
V\f\XU\Xjgl`VbebU\ō!Gb`\
UTeWmbcb`TZTb eX_TV]babjT
cTa Gb`Tfm! 4 cTa @Te\Ta
jfcb`\aTV[j\_XmTZebƁXa\TW_T
cbVml`jeTmmcTaX`@Te\T
aX`cbWfmXWWbbY\TeljlcTW
^h!FceTjWm\_\Vmljcb]XƀWm\X
a\X`T\aalV[bf‰U!MTUXmc\X
Vml_\ Thgb ƁXUl a\X Wbfmb
WbjlUhV[h!MTa\`ceml]XV[T
lfhƁUlcTaGb`TfmmT]ŀf\ō
cbfm^bWbjTal`!Hfhaŀ_\ŬV\X
\m\X`\ōm]XZbhfg! MbUTVmlX`
ƁXmTcTbWWXV[!Cbj\XWm\TX`
fbU\Xj`lŬ_TV[-gb]hƁ]XfgXŬ
aTfma\XWT`lV\bWX]ŬŃ jfcb
`\aT!ATj\ŀmT^bagT^gm`ōƁ
Vmlmaŀ!FceTjWm\Vml`bƁXcb
ehfmTŃZbjŀ\^bşVmlaT`\! A\
VmXZbmglV[`b`Xag‰ja\XcT
`\ōgT` `‰j\cbWVmTffcbg^T
a\TjHemōWm\XbVT_TlmjlcTW
^hcTaFgXYTa!Jfmlfg^bVbeb
U\^\XebjVTThgbUhfhUlbcb
Wl^gbjTaX\afgeh^V]T`\ma\X
WTjaXZb ^hefh eTgbja\VgjT
`XWlVmaXZb! JcXjal``b
`XaV\XcbWa\bfX`jmeb^\mb
UTVmlX` aTW fbUŀ ^f\ōWmT!
HWm\X_Tcb^emljWmbaX`haT
`TfmVmXa\T bcbj\TWT!GbUl
^f\ŀWmmgemXU\Xf^\X]cTeTY\\^g‰
elVmōfgb^bemlfgTm?\a\\FT`b
emŀWbjX]! GXZb Wa\T gXƁ Ul
jŬe‰W cTfTƁXe‰j \ mTeTmX`
Ŭj\TW^‰jjlcTW^h!CTaFgXYTa
fhV[TmXjmehfmXa\X`eX_TV]\
_hWm\Wm\ō^\^g‰el`mTV[bjT
ƁlV\X\mWebj\X!CeTj\X]hƁWb
fmXWWbf\XU\XV[bŃV\ŀZ_XbW
VmhjTU‰_XZbjl!Jjla\^h
jlcTW^h WbmaT cō^a\ōV\T
VmTfm^\jWj‰V[`\X]fVTV[cb
]Tj\f\ōWhƁl^ej\T^!@\TcbT
`TaXƁXUeT!ip
CbZňU\Te^\ceTVh]ĻcXaĻ`bVĻcb M`\Taljf^TWm\XETWlMTemĻWmT]ĻVX]
gbżXUlgbe`\T$'(`ZňUb^bŧV\ fc‰^\4Ye\VTa<aiXfg`Xag:ebhc
@TeX^=TfmVmlŚf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
GejT]ŀceTVXmj\ŀmTaXmcemX
UhWbjŀb^bb^\_b`XgebjXZb
bWV\a^T gbeh cbWX]ŬV\bjXZb
Wbħj\abh]ŬV\T\b^bbgeml^\_b
`XgebjXZbbWV\a^TgbehjbW
aXZbħj\abh]ŬV\X·FmVmXV\a
cemljX]ŬV\hWbŬj\abh]f^\XZb
cbegh!
<ajXfglV]ōeXT_\mh]X^bafbe
V]h`Y\e`-CemXWf\ōU\befgjbEb
U‰g6mXecT_alV[\CbWjbWalV[
Fc!mb!b!m:WTşf^T_\WXe^ba
fbeV]h` ;XZX`Taa :`U;
mA\X`\XVbeTmEb[WXA\X_fXa
4"Fm7Ta\\ \aYbe`h]X8jTJ\X
VmbeX^emXVma\^HemōWh@be
f^\XZbjFmVmXV\a\X! Jla\
^\X`ebU‰gcbZōU\Tef^\V[ceb
jTWmbalV[aTceTj\XVmgXeXV[
^\_b`XgeTV[gbehUōWm\Xhmlf^T
a\XZōUb^bŬV\$'(`aTVTl`
gl`bWV\a^h!MZbWa\XmTaT_\mŀ
aTj\ZTVl]aŀjl^baTaŀjVmT
f\XcemlZbgbjTşWb\ajXfglV]\
h`bƁ_\j\ gb ceml]`bjTa\X
j Ŭj\abh]f^\` cbeV\X j
mT^bşVmbabj$++#TWb$+,(
ZōUb^bŬŃgbehbf\ŀZaōTb^!)
`!J$++,cbW]ōgbWXVlm]ōbcb
ZōU\Xa\hgbehWb+`e‰ja\XƁ
aT MT_Xj\X FmVmXV\şf^\`!
ATEbmgbVXBWemTşf^\X]`hf\T
abhfhaŀŃ%^T`\Xa\fgXeTYl
m ^g‰elV[ hflcTab jlfcō
6[X`\aX^!CeTVXh^bşVmbab
j$,##eb^h!7b$,$$eb^hmeXT
_\mbjTab ceb]X^g >TaTh
@\X_\şf^\XZbj ħj\abh]ŬV\h!
HebUX^mUhWbjl\cbZōU\Ta\T
gbehjlemhVTabaTceml_XZXcb
_Tj`\X]fVbjbŬV\TV[aTW MT_X
jX`
j
gXa
fcbf‰U
jleXYh_bjljTabU\Tlc\TfX^
\cbjfgTlc_TƁX!ip
jJla\^\X`ebU‰gcebjTWmbalV[aTceTj\X'^\_b`XgeTV[gbeh
UňWm\Xhmlf^Ta\XZňUb^bŧV\$'(`aTVTl`gl`bWV\a^h
Cb_\VX
Jb]V\XV[@\fV[^XmbfgT
abjl`cemXWfgTj\V\X_X`
:ehcl4mbglMT^TWl
6[X`\VmaXÂCb_\VXµF4!j
ETWm\XMTemĻWmT]ĻVX]4Ye\ZF4
@TeX^=TfmVmlŚf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
Jb]V\XV[ @\fV[^X mTfgŀc\
aTgl`fgTabj\f^hGb`TfmT
FmXefmXa\T^g‰elmbƁleXmlZ
aTV]ō!'& _Xga\@\fV[^XgbWb
Ŭj\TWVmbal`XaTWƁXefcXV]T
_\mh]ŀVlf\ō`!\a!j_bZ\fglVX
\geTafcbeV\X`\ōWmlaTebWb
jl`!Jfc‰ceTVbjTma\X`\X
V^\`\Y\e`T`\-6[X`\cXgeb_
FcXW\g\ba 9EB@@ E84K
GeTafcbegX!BeZTa\mbjTcbW
fgTjlYha^V]babjTa\Tcb_f^\X
ZbbWWm\Thfc‰^\E84K!
CbW^ba\XVVmXejVTm`\Xa\
lf\ōjTWmXjTYel^Tşf^\X]
fc‰VX!FTjb`\e?\c^bjf^\mT
fgŀc\aTfgTabj\f^hWleX^gbeT
ZXaXeT_aXZb
Gb`TfmT
=Ta\V^\XZb!M`\Xa\f\ōgT^ƁX
f^TW ETWl MTemŀWmT]ŀVX]!
BUXVa\XeTmX`mJb]V\XV[X`
@\fV[^XETWōgjbemŀcemXjbW
a\VmŀVT8jT:beTcXa\ŀVTgT^
ƁXYha^V]ōWleX^gbeT7XcTegT
`Xagh MT^hc‰j FgeTgXZ\Vm
alV[ j :ehc\X 4mbgl Cb_\VX
9BG!4E6;<JH@
ķXZ_TemlcljT]ĻVlV[cb
mT_Xj\Xa\Xcbj\Xa\XamWm\j\ľ
j\Wb^ceTV!GejTcbZňU\Ta\X
gbehjbWaXZbĢj\abh]ŧV\X FmVmXV\a
cemlfmbŬV\cbWbfgbfbjTa\h
cemXmcbegaTUemXƁlfgTg^‰j
b `T^fl`T_al` mTahemXa\h
Wb$&(`jgX]V[j\_\]Xfggb$&%
`!>bfmgceTVVmXecT_alV[gb
b^!$#(`_amTcemXj\WljTal
gXe`\a\V[mT^bşVmXa\TgbWeh
ZTcbbjTjemXŬa\T!
Cemlcb`a\]`l ƁX ceTVX
cemlgbemXjbWal`ebmcbVmōl
f\ōb^bb$+*(eb^h\cebjTWmb
aXUllj^\_^haTfghXgTcTV[!
AT]c\XejcbjfgT>TaTC\T
fgbjf^\·cemX^bcbWhZbŬV\b^!
%( @` cemXm cbhWa\bjb
jfV[bWa\ŀVmōŬŃjlfclHmaT`
b`\]T]ŀVjgXafcbf‰U`\X_\mal
Z‰eaX]gmj!FgTeX]ħj\al!CeTVX
9BG!H@F
MT_XjFmVmXV\Śf^\
jCXżXgX`bjf^\`Tfbj\XVÂ@TmhelµmgeTafcbegX`YbfYbelg‰j
W_TMT^TW‰j6[X`\VmalV[jCb_\VTV[
beTmWleX^gbe7XcTegT`Xagh
9\aTaf‰jcb_\V^\X]Y\e`l8jT
FXjXef^T!
:ehcT4mbglMT^TWl6[X
`\VmaXÇCb_\VXºF4cbf\TWT((
cebVXag hWm\T‰j j fc‰VX
4Ye\VTa<aiXfg`Xag:ebhcF4!
J%#$&eb^h:ehcT4mbgl
Cb_\VXaTUlTT^V]XfXaXZT_f^\X]
fc‰^\·\agXaV]ŀY\e`lUlfgTl
WbfgōcWbjTfalV[fhebjV‰j
Z‰ja\XYbfYbelg‰j\ha\XmT
_XƁa\Xa\X f\ō bW WbfgTjV‰j
mXjaōgemalV[!
=XWaT^bW%#$(eb^hfc‰^T
mT_XƁaT 4Ye\VTa <aiXfg`Xag
:ebhcF4a\XjlWbUljTTYb
fYbelg‰jmjTfalV[m‰ƁT]X
Wla\XcbŬeXWa\VmlTjmT^h
cTV[fhebjVTbWcbW`\bg‰j
gemXV\V[m4Yel^\!=XWabmXm‰Ɓ
mbfgTbUbj\X`jlVmXecTaX
j%#$'eb^hTjlWbUlgXZbfh
ebjVTUlbmaTVma\X`a\X]a\Ɓ
fmTVbjTab!ATWehZ\`mTŬmb
Ɓhfc‰^Tcbfmh^h]XbUXVa\X
YbfYbelg‰jTceTVXZXb_bZ\Vm
aXfŀaTcbVmŀg^bjl`XgTc\X!
MTTjTafbjTaXfŀgT^ƁXfgTeT
a\Tbhmlf^Ta\X^baVXf]\jlWb
UljVmX]aTX^fc_bTgTV]ōmbƁT!
9bfYbelglgb]XWXamcbWfgT
jbjlV[fhebjV‰jfhƁŀVlV[
WbcebWh^V]\aTjbm‰jj\X_bf
^TWa\^bjlV[^g‰elV[fcemX
WTƁ fgTabj\ maTVmaŀ VmōŬŃ
cemlV[bW‰jcb_\V^\X]fc‰^\!i
p
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
CTegaXemljlWTa\T
JL74EM8A<4
fgebaT""$&
glZbWa\^""$&
GemlWm\Xfgb]XWab_Xga\XcbefV[X
m5Xe_\aTUlbh^elgXcbWc_TaWX^Ļ
g6ml^eTWm\XƁXcb]TmW‰jmWTemT]ŀf\ōVmōfgbjCb_\VTV[2Cb_\V]Thfcb^T]T-^\XWlŬUlbZbemX]!MT
gbVmTfX`geTY\T]ŀf\ōeTelgTflgT^]T^j]XWal`mcbWm\X`alV[cTe^\aZ‰jjCb_\VTV[
Cb_\VX
Cb_\VVl^el`\aT_a\bWmlf^T_\cb
V[bWmŀVlm^eTWm\XƁlfT`bV[‰W
CbefV[X,$$jlcebWh^bjTal
j$,+(eb^h!4hgbmbfgTbh^eT
Wm\baXj`T]haTgXeXa\XA\X
`\XV!9ha^V]baTe\hfmXhfgT_T]ŀ
gXeTmjTegbŬV\cb]TmWh!FT`b
V[‰WmgXZbebVma\^TW_T^baXfX
e‰j fgl_bjlV[ Thg fgTabj\
ceTjWm\jleTelgTf!
J`T]h%#$)eb^hbUljTgX_
A\X`\XVmbƁlmTj\TWb`\Xa\X
bWb^baTaX]aT]XZbfm^bWō^eT
Wm\XƁlcbefV[X,$$m$,+(eb^h!
7b^eTWm\XƁlWbfmbj5Xe_\a\X!
CbfgōcbjTa\XjgX]fceTj\Xceb
jTWm\cb_\V]Ta\X`\XV^T!
Cb_\VVl^el`\aT_a\hfgT_\_\
`\X]fVXcemXV[bjljTa\Tcb]Tm
Wh\bWmlf^T_\hgeTVbaXmTUlg^b
9BG!>CCCB?<68
@TeX^=TfmVmlŚf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
jC\ň^aXmTUlg^bjXcbefV[XbWmlf^TaXcemXmcb_\V^\V[
cb_\V]Tag‰j!5lbh^elgXcbWc_TaWX^Ļ
jXThgb!CbefV[XmTcTe^bjTaX
UlbaT]XWal`mcbWm\X`alV[
cTe^\aZ‰j maT]Wh]ŀVl` f\ō
jVXageh`Cb_\V `‰j\Tfc\eTag
@TZbemTgT?\gj\am>b`XaWl
Cbj\TgbjX]Cb_\V]\jCb_\VTV[!
9ha^V]baTe\hfmXhfgT_\_\ƁX
WbfgōcWbgXZbcTe^\aZh`T]ŀ
e‰ja\XƁbfbUlcbfgebaaX!Cb
]TmWmT^elglUlc_TaWX^ŀgT^ƁX
Ula\XcemlV\ŀZTŃfjb\`j\Wb
^\X`hjTZ\cemXUljT]ŀVlV[gT`
bf‰U!
Hfm^bWmbaTfgTVl]^Tjf^T
mljTTaTgbƁXThgb`bZbcb
V[bWm\ŃmcemXfgōcfgjT!Cb_\VVl
^el`\aT_a\fceTjWm\_\cbefV[X
jcb_\Vl]alV[flfgX`TV[\b^T
mTbf\ōƁX]Xfgbabcbfmh^\jT
aXcemXmA\X`V‰j!MZbfmXa\X
b^eTWm\XƁlmbƁlj`T]hgXZb
eb^h`\Xfm^Ta\XV9eTa^Yhegh!
AT`\X]fVhYha^V]baTe\hfmXZeh
cl WbV[bWmXa\bjb Ŭ_XWVmX]
cemXcebjTWm\_\bZ_ōWm\alcb]Tm
WhmTUXmc\XVmT]ŀVŬ_TWl\hfgT
_T]ŀVWTaXbf‰U`bZŀVlV[`\XŃ
mj\ŀmX^mXfceTjŀ!
FT`bV[‰WmbfgTbW[b_bjT
alaTcb_\Vl]alcTe^\aZ!>bfmg
abjXZbcbefV[XgbaTjXg,##
glfm!Cb_\V]TaV\hfgT_T]ŀjTegbŬŃ
bWmlf^TaXZbcb]TmWh!MWTalV[
cb_\V]\`bƁX`lWbj\XWm\XŃf\ō
^g‰eXThgTcTWT]ŀaT]VmōŬV\X]h
cX`mbWm\X\jCb_fVX!Ib_^fjT
ZXaZb_YcemXWThW\4'\ib_^
fjTZXaX`cTffTgX`·gT^jl
Z_ŀWTVmb‰j^TfT`bV[bW‰j
aT]VmōŬV\X]^eTWm\balV[jCb_
fVXj%#$(e!<V[bV\TƁ_\VmUTThg
cTWT]ŀVlV[ hcX` mbWm\X\
m`a\X]fmTf\ōmeb^haTeb^gb
jV\ŀƁŬeXWa\bVb&,`\ahgjTŬ
V\V\X_ƁXZaTf\ōmXfjb\`cb]Tm
WX`!
BW^\_^haTfgh_Tgm]Tj\f^b
]XfgVbeTm`a\X]fmX!6[bŃ_\Vm
UTfT`bV[bW‰jcbehfmT]ŀVlV[
f\ōcbcb_f^\V[WebZTV[ZjT
gbja\XebŬa\Xgbmeb^haTeb^
VbeTm`a\X]cb]TmW‰j]Xfg^eT
GebV[ňfgTglfgl^\
g4gT^jlZ_ĻWT_\fgTaT]Vmňŧ
V\X]^eTWm\balV[`TeX^jXW
hZWTalV[>b`XaWlJb]X
j‰Wm^\X]Cb_\V]\jFmVmXV\a\X
mT%#$(eb^h-
$!Ib_^fjTZXa Zb_Y
%*
%!4hW\
4)
%)
&!4hW\
4'
%'
'!Ib_^fjTZXa cTffTg
$+
(!F^bWT
bVgTi\T $&
)!Ib_^fjTZXa gbheTa
$#
*!9beW
`baWXb ,
+!BcX_
iXVgeT
+
,!4hW\
D*
+
$#!4hW\
D(
)
$$!4hW\
4+
)
$%!@TmWT
)
)
$&!Ib_^fjTZXa VTWWl)
Wm\balV[·jl]TŬa\T`bWfml
Tfc\eTag7Tj\W@TeV\a\T^m>b
`XaWl:‰jaX]Cb_\V]\!ip
$'""fgebaT
$'""glZbWa\^
;<FGBE<4
CTegaXemljlWTa\T
6\ňż^\XżlV\Xc\ba\Xe‰j
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
@TeX^=TfmVmlŚf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
>gbbZ_ŀWTY\_`ÇCeTjb\c\ōŬŃº
gXaaTcXjabcT`\ōgT]T^jcb
Vmŀg^bjlV[fVXaTV[Y\_`hjl
Z_ŀWT geTafcbeg bfTWa\^‰j
aTM\X`\XBWmlf^TaX!4]T^cb
We‰ƁbjT CTj_T^ m ebWm\aŀ
jY\_`\XÇFT`\fjb\º2JjTZb
a\XgbjTebjl`]XV[T_\eTmX`
m\ajXagTemX`ƁXUlmTVmŀŃab
jXƁlV\X!MTcXjaXgT^TfT`T
flghTV]T `bZT f\ō mWTemlŃ
jCb_\VTV[!AT]c\Xej]XWaT^
`hf\TTf\ōjl]TŬa\ŃflghTV]T
glV[m\X`TŬV\Ŭ_X]8a^_Tjl
Cb_\V^\X]mTemŀWmTaX]cemXmFb
j\Xg‰j!8a^_TjTYbe`T_a\X\fg
a\TTbW(cTƀWm\Xea\^T$,'(
Wb%(jemXŬa\T$,')eb^hUl
gbbUfmTeb^bb,#^\_b`Xge‰j
^jTWeTgbjlV[VmTfbjbjlŀ
VmbalfcbWTW`\a\fgeTV]\cb_
f^\X]cbmbfgT]ŀV]XWaT^gXelgb
e\h`Cb_f^\!6X_T`\\fga\Xa\T
Xa^_TjlUlbmTUXmc\XVmXa\X
beTmjlj‰mWbMFEEbVT_TlV[
cbmbfgTbŬV\cbYTUelVXUXaml
alflagXglVmaX];lWe\XejXe^X
CŒ_\gm4:!AT]X]bUfmTemXceT
VbjTbcbaTW%#glf\ōVl]Xş
V‰j\ebUbga\^‰ja\X`\XV^\V[!
7bc\Xebcbm_\^j\WbjTa\hXa
^_Tjl`bZ_\ghYbe`T_a\Xceml
UljTŃbfTWa\Vlcb_fVl!
6[bV\TƁcb]XWlşVmXbfbUl
]hƁ jVmXŬa\X] bf\XW_Tl f\ō
jCb_\VTV[Ul_\gbebUbga\Vl
ceml`hfbj\^g‰emlceml]XV[T
_\ghgT]jVmTf\Xjb]al\cbmb
fgT_\cb]X]mT^bşVmXa\h `‰j\
FgXYTa@TefmTX^^g‰elbc\fT
jfcb`a\Xa\Tcb_\V^\V[c\ba\X
e‰j! Ebm`Tj\TX`mb^bb
%##bfTWa\^T`\_hU\V[Wm\XŃ
`\!
>\XWlcemlUljT_\ghCb_TVl
gbaTWjbeVhmTfgT_\j\X_^\X
f^TWbj\f^bW‰Ue^g‰eX4e`\T
6mXejbaT a\X mWŀƁlT jl
j\XƀŃ!GT^jlZ_ŀWTbmTUXmc\X
VmXa\X`\Xa\TTjemXVmlj\
fgbŬV\b^eTWTa\XglV[m\X`!
@XU_XYbegXc\Talc\Ta\aT
ebjXel!Jfmlfg^bVbcemXWfgT
j\Tb ]T^ŀ^b_j\X^ jTegbŬŃ!
Jfmlfg^bgba\fmVmTbcbWZb
l`a\XUX`\mbfgTbjemhVbaX
Wb_X]‰jcbUb`UTV[\mTflcT
aX bcbj\TWTcTaFgXYTa!
A\XUlbUXmc\XVma\X!A\XV[
mTceml^TWcbfhƁl[\fgbe\TcT
aT 5TU\şf^\XZb ]XWaXZb
m c\XejfmlV[ `\_\V]Tag‰j
jGTabj\X!JXjf\UllVmgXel
gTegT^\!MWTemTbf\ōƁXEbf]T
a\Xceml]XƁWƁT_\\V[V\X_\bUeT
UbjTŃgTegT^\!@\_\V]TaV\a\X
cbmjT_T_\aTgb!7bV[bWm\b
WbjT_^\!FlghTV]ōcbZTefmT
YT^gƁXjCb_\VTV[a\XUlbcb
Vmŀg^bjb^b`\fTe\Tgh`\_\V]\
Ta\cb_f^\V[Ɓba\Xeml!7bc\Xeb
c‰ƀa\X]cb]Tj\Tf\ōfgeTƁa\VT
JBCcemlh_\Vl>babca\V^\X]!
@\`ba\XUXmc\XVmXşfgj
bfTWa\VljlU\XeT_\Cb_\VXmaT
Wm\X]ŀƁXghUōWm\Xfcb^‰]\jl
V[bjT]ŀfjb]XWm\XV\cb_TgTV[
jb]al\ghTVm^\ `‰j\aTfmeb
m`‰jVT!
BfTWa\^‰jmCb_\VbUfhZ\
jTCbj\TgbjlBWWm\TCTş
fgjbjXZbHemōWhEXcTge\TVl]
aXZb CB CHE W_T bUjbWh
jX_XV^\XZb"cbj\TghfmVmXV\ş
f^\XZbaT:ōUb^\`!AT]j\ōV\X]
ceml]XƁWƁTb\V[WbCb_\VmX
jfV[bWh Cb_f^\ a\X gl_^b
m?hUX_fmVmVmlalT_Xe‰ja\XƁ
m>eXf‰j!GhhWTjT_\f\ōcb]X
WmXa\XcbcebWh^glmHAEE4
Ha\gXW ATg\baf EX_\XY TaW
EX[TU\_\gTg\ba4W`\a\fgeTg\ba
4W`\a\fgeTV]TATebW‰jM]XW
abVmbalV[WbFceTjCb`bVl
\BWUhWbjl beZTa\mTV]T`\ō
WmlaTebWbjT
hgjbembaT
j$,'&jJTfmlaZgba\Xm\a\
V]TgljlHF4J\X_^\X]5elgTa\\
MFEE\6[\ajVX_hhWm\X_Xa\T
cb`bVlbUfmTeb`jlmjb_b
al`j8hebc\XbeTm4m]\cbmT
^bşVmXa\h<<jb]alŬj\TgbjX]!
CeTj\X*#cebVXagŬj\TWVmXş
aTemXVmHAEE4cbV[bWm\b
mHF4!AT]j\ō^fml`\bWU\beVT
`\Ull6[\al\Cb_f^T cemlc!
eXW!
AT]cXja\X]fmT^b`ha\^T
V]T`\ōWmlCb_\VT`\TFmVmXV\
aX`a\Xcb_XZTTaTfT`bV[b
WTV[Vml^b_X\T_XaTjTf
alV[abZTV[UŀWƀebjXemX! 4gemXUTUlbjl]XƁWƁTŃƁXUl
aTceml^TW^hc\Ń`_X^bW_T
Wm\XV\!>ebjlVml^bmlUll
f^TeUX`UbcbgeTY\ljlƁlj\Ń
ebWm\al!?hWm\XcbgeTY\_\f\ō
Wm\X_\Ń`\ōWmlfbUŀa\XUlb
gT^\X]mTj\ŬV\]T^Wm\Ŭ `‰j\
cTaFgXYTa! =XfmVmX]XWaŀVX
V[TV[TeT^gXelfglVmaŀUlbgb
ƁXc\Xa\ŀWmXa\X`\TljTegbŬ
V\!AT]_XcfmŀÇjT_hgŀºUlfT
`bZba!BWUljTf\ōgXƁ[Ta
WX_jl`\Xaal!
A\X`VlUl_\cbZbWmXa\mX
fjb\`_bfX`!A\XbWabf\_\f\ō
jebZbWbCb_T^‰j!MWTemTlf\ō
gXƁhWTaXmj\ŀm^\cb_f^b a\X
`\XV^\X! GT^UlbmcTaX`
?\UXe^\X`^g‰el]XfmVmXcbW
VmTfjb]algeTY\WbZbfcbWTe
fgjTcTa\8``l!=X]`ŀƁgeTY\
Wb
fbj\XV^\X]
a\Xjb_\
cbWFgT_\aZeTWX`!5lTfT`bg
aT!MTj\ŀmTbf\ō`\ōWmla\`\
hVmhV\X!MbfgT_\eTmX`cbjb]
a\X!
J GTabj\X mT :ha\Vŀ
jGemXU\XƁlmTVmlaTTf\ōfgeX
YTaTWZeTa\VmaTZWm\X`bƁaT
UlbcemXUljTŃaTcbWfgTj\X
fcXV]T_aXZbmXmjb_Xa\T!MWT
emTbf\ōƁXcemXmZeTa\VōcemX
^eTWT_\f\ōA\X`VlƁXUlfceTj
Wm\ŃVbf\ōWm\X]Xm\V[`\X
a\X`! 6mla\^ga\Xb^eTWTZb
fcbWTefgjT!GT^UlbjGTgla\
`‰j\cTaFgXYTa!i
o
jFVXaT]T^mY\_`hÂCeTjb\c\ňŧľµ`\_\V]TagmTgeml`TfmTUebja\^TmjbmX`jlcXa\bal`
ÂWbUeT`\µ!Cbjb]a\Xj\X_hhjTżTbżX`\Xa\Xcba\X`\XV^\Xgba\Vml]X\`bżaT^eTŧľ
9BG!HEM÷7@<8=F><JCB?<646;
7m\X]XCb_\V
9BG!HEM÷7@<8=F><JCB?<646;
gA\XUTjX`UbjXjemXŬa\h`\a\X*#_Tgcb_f^\V[Cb_\V!MTfgTa‰j`lf\ō]T^jlZ_ŀWTlc\XejfmXWa\
bfTWa\^‰jjbUVl`\``\XŬV\X!7bf^j\XeTZ‰W\fgeTV[T_XghV[V\X_\UhWbjTŃfjb]ŀcemlfmbŬŃ
jCb_f^TmTbZTWTjalV[mT^TW‰jUXamlalflagXglVmaX]!J\X_h]XfmVmXa\XmWĻżlbŧV\ĻZaĻľ
`hWhe‰jcbjb]XaaX]ghTVmVX!HjTZňmjeTVT[TfbmTV[ňVT]ĻVXWbjlgňżbaX]ceTVl!GT^\XUll
eXT_\TgT`gXZbVmTfh
MTeV[\jh`cb_f^\V[Cb_\V
jCemX^TmTa\XfmgTaWTeh^b`UTgTagb`mCb_\V!MjeTVThjTZňcTa
jebZTgljVXjZňU\aT_XjX]c\Xef\`TcbWj‰]alemĻW`XWT_\
j>baabWbcbżTeh2GT^\XUllcbVmĻg^\BV[bga\VmX]FgeTżl
CbżTeaX]jCb_\VTV[
jMWX`bU\_\mbjTa\żba\XemXcemlmTf\XjTV[!Jb]f^bj\hUeT_\
aTjXgU\TX^bfmh_XWbmW]ňV\T
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
CTegaXemljlWTa\T
>EBA<>4>EL@<A4?A4
fgebaT""$(
glZbWa\^""$(
CemlV[bWm\ŧj\TWX^WbfĻWh\`‰j\-
@T`gTŧ`ň]T^ETWX^f\ňcemlmaT]X
gBglV[aTZeTa\TV[`‰j\bf\ōbWWTjaT!@T]ŀ
UlŃ^bebaal`WbjbWX`cbge‰]aXZbmTU‰]fgjT!
Gb:emXZbemJ!bcXeTgbe
j‰m^Tj\WbjXZb^g‰elaTVb
Wm\Xş `\Xfm^T j ;b_TaW\\!
@Te\hfmCTe^\gal
Gj\XeWm\ƁXaTZeTjfmlfg^\X
`Te\hfm!cTe^\gal3cb_f^TceXff!c_
ebm`bjlj^g‰elV[JTeTj^b
\]XZb^h`c_Xbcbj\TWT]ŀbmT
U‰]fgj\X!7bgTe_\Ŭ`lWbmXmaTş
BgX]Uh_jXefh]ŀVX]fceTj\Xc\fT
:emXZbemTJ!Bgb]XZbeX_TV]T-
_\Ŭ`lj:bf\XCb_\V^\_^T`\X
GXZbETW^Tj\Wm\TX`WjT
f\ōVlgX`hUbbf^TeƁXa\jfceT
j\X cbge‰]aXZb mTU‰]fgjT eTml! 5lT gT^T flghTV]T ƁX
jFmVmXV\a\XcbWbUabhV\X^T_\ >emlfmgbYC!bf^TeƁbalbmTV\X
mTZeTa\VōcemXmcbj\Tgcb_\V^\! eTa\XŬ_TW‰jcbmTU‰]fgj\X eXW! ceml]XV[T m ]T^\`Ŭ
:eTa\Vō`\X_\cemX^ebVmlŃceTj
WbcbWbUa\X aT cemX]ŬV\h ETW^\X`!@lmJT_W^\X`J!
fgT_\Ŭ`laTWjbemX!>emlfmgbY
j>bUTf^bj\X!7m\ŬcbeV]Tab
jm\ŀJT_W^TaTUb^!=TWba\V[
jlV[\aYbe`TV]\UbcebVXfmU_\
cbWfmXWX`TUlf\ōWbj\X
ƁTf\ōWb^bşVTTcb]Tj\lf\ōab
Wm\XŃVbf\ōWm\X]X!5l_\UTeWmb
jXfXafTVl]aXhfgT_Xa\T!
Bcbge‰]aXmTU‰]fgjb]Xfg mWXaXejbjTa\!A\X`bZ_\hfgTŃ
bf^TeƁbalETWbfTjJTeTj^b! j]XWal``\X]fVh!>emlfmgbY
JXWhZceb^heTghelj^j\Xga\h `‰j\ƁXgXaETWX^mTU\]T^ŀŬ
%#$$ ceml h_\Vl HmaT`f^\X] ebWm\aōjFmVmXV\a\X 7ŀU\h!
jFmVmXV\a\XmTU\jUXfg\T_f^\ >emlfmgbY\ETWX^`‰j\_\ƁX
mTU\_\ebWm\aōabƁT`\Vmlf\X
fcbf‰U`Tg^ōb]Vml`T\ceml
ebWa\XZba\XcXabfceTjaXZb ^\XeT`\!@‰j\_\ƁXmTU\ETWX^
UeTgT! FmVmXZ‰l mUebWa\ fŀ \]T^\ŬFXUTfg\Ta!J\ōVX]`‰j\
jfgemŀfT]ŀVX!
JlfgTeVml >emlf\X^UbgXaETWX^Ul]T
jfcb`a\XŃƁXjXWhZmXmaTş ^\ŬWm\jal!ETWX^`‰j\ƁXgŀ
Ŭj\TW^‰jbf^TeƁbal`\Tj_TŃ ^bU\Xgō]T^`beWbjTgbbaT
a\UlZbhZelmT\f\ōclgTVml
`TgVXWbhfgƁeŀVlclaTUlhfh
aŀŃŬ_TWl]XZbaTf^‰e^Tcbgl` `bZbmbfgTŃ]XZb7A4\`‰j\
ƁXaT_T]X]WbUhm\7b`XfgbfT
ZWl`Tg^ThZelmTZbeō^ō!
5Tf\ōƁXaT]X]mōUTV[ _hUVbŬgT^\XZb!Ba\ebm`Tj\T
_\T]T\V[cbcebfghaTZeljT
`‰ZUlmbfgTŃŬ_TW7A4 `‰
X`!Gl_^ba\XbWcbVmŀg^hgl_
j\]XWXamXŬj\TW^‰j!
^b cb ]T^\`Ŭ VmTf\X Ub aT]
CebVXf]Xfgcbfm_T^bjl!GX
eTmcb]Tj\f\ōWbj‰W^g‰el c\XejmTWmjba\X`Wb`b]X]
^bU\Xgl \ cbcebf\X` TUl
`bƁXcbZeŀƁlŃJTeTj^ō!=X
fceTjWm\Tj\agXeaXV\XVml
WXamXŬj\TW^‰jmXmaTƁXaT
ZeljTgX_XYbaX`ebm`bjl UlbgT^\XmTU‰]fgjbUba\XeTm
j;b_TaW\\bcbj\TWT]ŀe‰ƁaX
aT^g‰elV[JTeTj^b\]XZb^b
emXVmlmcbjbWhaTe^bgl^‰j!
_XZT`‰j\ŀbmTU‰]fgj\X!
B^TmTbf\ōƁX]XfggbceTjWT
A\XbVmX^\jTaXmXmaTa\T mTVmŀX`\V[aTZeljTŃ\`T`
gXaTZeTa\T!GlV[aTZeTş]Xfg
FceTjTjlfmTcemlb^Tm]\\a
aXZbcebVXfh^g‰elgbVmlf\ō ^\_^T!ATZeTa\TfŀgXeTmj;b
cemXW fŀWX` eX]babjl` _TaW\\UbUlX`WXcbegbjTal
jFmVmXV\a\X!Bf^TeƁbalja\` T_Xcba\Xje‰Vō!JgXWlj;b
]Xfga\X]T^\'% _Xga\JT_WX`Te _TaW\\bW`‰j\X`f^TWTa\T
mXmaTşjWebWmXcb`bVlceT
J![TaW_Tema\XehV[b`bŬV\T
`\mmTjbWh`heTem gla^Tem! jX]!GXaTZeTa\TfŀaTgX_XYba\X
Gb ba `\T cb`‰V JTeTjVX ^b`‰e^bjl`!=Xfg\V['_hU(!
jmT^hc\Xc\fgb_Xgh^g‰eXZb JTeTj^baTglV[aTZeTa\TV[
`Tb`‰j\baUlmWXaXejb
JTeTj^bV[V\ThƁlŃWbmTU‰]
jTal!JT_WX`TeJ!`‰j\\`
fgjTebWm\al!JXWhZceb^heT
ghelJT_WX`TeJ!cemX^TmT Vb`T]ŀebU\Ń!
JTeTjVX ah`Xe gX_XYbah :emXZbem J! mXmaT gXƁ
WbbfbUlfcbWJTefmTjl^g‰eT bfcbg^Ta\hmXfjb\`^b_XZŀ
5Tegb`\X]X`G!^g‰eX`hbcb
fcemXWTjTTUebş!J!mTcemX
j\XWm\XŃVbaTZeT-
VmT!ATbfgTga\X]ebmceTj\Xcb
=T^ceml]XV[TWb`a\Xgb
]Tj\f\ōŬj\TWX^^g‰eXZbmX
`hbgl`bcbj\XWm\TX`!BW
maTa\TcbZeŀƁT]ŀJTeTj^ō!
gjTemTX` `h gX aTZeTa\T! @\X_\Ŭ`l_TcgbcT!@bƁXf^b
c\bjTgXaTZeTa\T`bƁXa\X!
@‰j\_\żXmTU\_\ GXaTZeTa\Tfŀj;b_TaW\\!Fŀ
ebWm\aňabżT`\ jWXcbmlV\Xcb_\Vl]al`cemX
J\ňVX]`‰j\ ceTfmT``T`]XhTWjb^TgT!
`‰
>emlf\X^UbgXa Gl_^b]T]X`bZōbWXUeTŃ
j\!
ETWX^UlWm\jal
5Tegb`\X]G!]hƁjŬ_XWm
gj\Xceb^heTghelh]Tja\ƁX
g7bgTe_\Ŭ`lWbmXmaTşbfbUl^g‰eTgj\XeWm\
ƁX]XfgThgbeX`glV[gTŬ`!@T]XhchU_\Vma\Ń
CebVXf
9BG!4A7EM8=FM>B6><
MTU‰]fgjb
gCbW^ba\XV^j\Xga\T%#$$e!
jWb`hcemlh_\VlHm
aT`f^\X]maT_Xm\babV\TT
gemlbfbUbjX]ebWm\al!Ceb^h
eTgbeaTc\fmXjT^V\Xbf^TeżX
a\TbUXfg\T_fgj\XmTU‰]Vl!
BY\Tel`\TlaTV\X_X_\VmaX
V\bflbWabżl!A\XcXabfceT
jalcemlebWa\UeTgETWbfT
jTJTeTj^\UlWhfmbal!
FceTjVTmTbżl`hfmT_\^Cb
Zba\FmVmXV\a!
@bgljX`mUebWa\UlceT
jWbcbWbUa\XeTUhaX^\V[ňľ
cemX]ňV\T`T]Ļg^hcbebWm\
VTV[!ETWbfTjJTeTj^b
UTeWmbfmlU^bmTVmĻ
cemX]`bjTľfcTWX^!EbU\gb
cemlcb`bVlżbal\flaT!J
fĻWm\X_Xżlja\bfX^bhmaTa\X
ZbmTa\XZbWaXZbWm\XWm\VmX
a\TT_XfĻWVmX^TaTjleb^j
fceTj\XbmTU‰]fgjb!
jETWbfTjJTeTj^bmTV[bjh]XaTcebVXf\Xfcb^‰]!HjTża\XfhV[TVb`‰j\Ļŧj\TW^bj\X
ATZeljTX`
jfmlfg^\XgX
ebm`bjl!@bZň]X
WbfgTeVmlľ
Wbceb^heTghel
9BG!4A7EM8=FM>B6><
j\XbaTZeTa\TV[:emXZbemTJ!
\ceTjWbcbWbUa\X]XflfmT!
:emXZbemJ!`‰j\]XfmVmX
gT^-
5lT gT^T flghTV]T ƁX
>emlfmgbYWmjba\WbJT_WX
`TeTJ!jfceTj\XUeba\!JT_
WX`TecbWT]T^\Ŭah`XegX_X
YbahWbV[bcT^‰jbW^g‰elV[
gT^\XVbŬ`bƁaTmWbUlŃ!=TaT
ZeljTX`gXebm`bjl!5llgb
ebm`bjlJT_WX`TeTm>emlfm
gbYX`\mgT^\`VmTeal`Vb
`‰j\_\]T^bUlmTU\]T^ŀŬeb
Wm\aōgT^\`ETW^\X`!GbUll
gT^\Xebm`bjlƁX>emlfmgbY
\ETWX^ceml]XV[T_\mCb_f^\!Cb
j\XWm\X_\ƁXmTU\_\]T^ŀŬebWm\
aō!!!Ebm`Tj\T_\Vb`T]ŀeb
U\ŃjgT^\X]flghTV]\!@‰j\_\ƁX
cemlj\Xƀ_\mbgb$(#ZeT`‰j
]T^\XZbŬmbgT!JT_WX`Te\`
`‰j\Vb`T]ŀebU\ŃƁX`T]ŀ
mbgbcemXgbc\ŃƁXUlŬ_TW‰j
j>emlfmgbYC!beTmJb]V\XV[5!cb`TZT_\E!JTeTjVXcbmUebWa\
a\XUlbƁX`T]ŀ]XfcemXWTŃ!=T
gXebm`bjl`T`aTgX_XYba\X
VTlVmTf!ATZeljTX`jfmlfg
^\XgXebm`bjl]T^JT_WX`Te
`‰j\Vb`T]ŀebU\Ń!@bZōWb
fgTeVmlŃgXebm`bjlWbceb^h
eTghel `‰j\:emXZbemJ!
CemlmaT]XƁX]Xfgf^‰Vbal
mJT_WX`TeX`J!
@T`]XWabcbfgōcbjTa\X
mbf^TeƁbal`JT_WX`TeX`J!
j >eT^bj\X ZWm\X aTZTWT
aT`a\XƁX]TUlX`mTbƁlV\X
_X`]T^\X]ŬZehclcemXfgōcVmX]
ƁXjlhWmTX`^eXWlgl!GbVb
baebU\cemX_TaT`a\X!=T
jgl`VmTf\XUlX`j;b_Ta
W\\!
jlemhV\]ŀgT`m\aal`\Wbjb
WT`\!@!\a!ma\fmVmbal`\gX_X
YbaT`\!@\X]fVXh^elV\TWbjb
W‰jjf^TmT`!\a!>emlfmgbYC!
^g‰el bWcbj\TWT mT cb`bV
jmTV\XeTa\hŬ_TW‰j!
JTeTj^bbUV\ĻżĻ
ETWbfTjJTeTj^ba\Xceml
maT]Xf\ōWbcbge‰]aXZbmTU‰]
fgjT!4Ulf\ōhj\TelZbWa\Ń
mZbWm\f\ōaThchU_\Vma\Xa\X
j\mXeha^h\aTmj\f^T!=XZb_\
a\TbUebal]XfgUTeWmbV\X^TjT
V[bŃceb^heTgbeJ\gb_W:eWXş
ja\ŀa\Xj\Xeml!
JXWhZJTeTj^\ceTjWm\
jl`\mTU‰]VT`\]XZbebWm\al
fŀWjT]`ōƁVmlƀa\^g‰emljXW
C\fgb_XgUljTW_\jl
hZceb^heTghelgl_^bcb`TZT
JXWhZceb^heTghelJTeTj^b _\`hjcemlZbgbjTa\TV[WbmT
^hc\c\fgb_XgbWa\XhfgT_baX] U‰]fgjTTcbgX`h^eljT_\!
Wb gX] cbel bfbUl ZWm\XŬ
M`hf\_\`a\XTUl`jlfgT
cbW JTefmTjŀ! 4 ^bagT^g j\\`fjb]ŀebWm\aōZWla\X
Wba\X]WbfgTbWJT_WX`TeTJ! UlX`jfgTa\XbWWTŃWhZh]T
CbWbUabUebş^bfmgbjTT$# ^\ha\V[`\TX`!MTZebm\_\ƁX
glf!m!@\TTgh`\^\cbaTW%# mTU\]ŀ`\Wm\XV^b\Ɓbaō!CbgX`
fmgh^T`ha\V]\!4_XfmlU^bf\ō ^TmT_\TUl`cb`‰Z\`b^eTŬŃ
b^TmTbƁXgbfm`X_V!
`b]ŀebWm\aō!=T\`cb`bZX`
CXjaXZbj\XVmbehbf^TeƁX
gT`jX]ŬŃT_XfT`a\XUlX`
a\hemŀWm\_\fbU\XfgemX_Ta\aō jŬebW^h!CbgX`ZWljlfm_\
j_Xf\X\b^TmTbf\ōƁXc\fgb_Xg `‰j\_\ƁXVbŬcbfmba\XgT^
fgemX_TVb^g‰elŬeTm!Gb`\T \ \V[ cbmTU\]T_\ bcbj\TWT
UlŃ cbj‰W W_T ^g‰eXZb JTeTj^b!
7_TgXZbaTZeTa\T^g‰el`\
JTeTj^bWbmTU‰]fgjThƁlab
Wlfcbah]XcbWbUab:emXZbem
ƁlTa\Xc\fgb_Xgh!
J!`bZŀ`\XŃ^_hVmbjXmaT
5\XZlWbfceTjUeba\^g‰
VmXa\XW_TgX]fceTjl!:emXZbem
elUTWTc\fgb_Xg-
J!`TUlŃŬj\TW^\X`aT^b_X]
GTUebşUlTjTW_\jTmcb
jbWhcebU_X`‰jmmT`^\X` aX]ebmceTj\XJTeTj^\\jfc‰_
a\^‰j! CemX^baT`l f\ō Vml
fchfgbjl` `‰j\aT cebVX
cemlj\Xm\XaTZeTa\T]T^bU\X
f\X!
VT!JTeTj^b`TbVbjT_VmlŃ
5ebşcb_\V]\hWTbf\ōbWaT
_XƀŃjemXVmVXCba\T!JTeTj^b UbZebm\`hWbƁljbV\X!ip
$)""fgebaT
$)""glZbWa\^
CTegaXemljlWTa\T
JL74EM8A<4
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
jGbUlTjl]Ļg^bjTb^Tm]TWbcbWm\j\Ta\Tc\ň^aTcemlebWl
jA\XmTUeT^bgeTWlVl]aXZbc\XVmXa\T^\XUTfX^
9BG!J<8F4J:4J8
jJfc‰_aXmW]ňV\XhVmXfga\^‰jfcljhcbTec\\
9BG!J<8F4J:4J8
jfV[bWa\X]!7T_X]fm_T^cebjTWm\cl
V\maT`\Tec\cbW`bfgT`\cemlh_!7ō
UbjX]\:b_Xa\bjf^\X]UlcbWjhZb
Wm\aaX]jlceTj\X^T]T^bjX]ma‰j
cemlU\ŃWbUemXZhBF\E bjf^\X]ceml
fgTa\!GhebmcbVmōbf\ō`lV\X\fhfmX
a\Xfcemōgh!A\XmTUeT^bc\XVmXa\T^\X
UTfX^\^ba^hef‰jm[h`beX`-cemX
V\ŀZTa\X_\alUlÇU\XZm]T]^\X`º^g‰el
jlZeT=heZXa5Teg[UlbgXƁÇbj\Xa\X
elUºZWm\XaT]_Xc\X]fc\fT_\f\ō8e\^T
J\_[X_`\JXeaXe!MjlV\ōmV‰jaTZeb
WmbabWebUal`\hcb`\a^T`\Tjfml
fVlhVmXfga\Vlfcljhbgeml`T_\cT
`\ŀg^bjXmaTVm^\!ATmT^bşVmXa\X
CemXjbWa\VmŀVlJ\aYe\XW
M\``Xe`TaamTcebf\WbhWm\Th
jj\X_^\`YXfgla\Xmb^Tm]\+## _XV\T
`\TfgT8ZZXf\a^g‰eXbWUōWm\Xf\ō$*
jemXŬa\T!gp
9BG!J<8F4J:4J8
ATmTcebfmXa\XFgbjTemlfmXa\T8^b_b
Z\VmaXZbÇTec\Tº\Cb_\V^\XZb>_hU6l
^_\fg‰jÇFT`TET`TºaT gXeXa\XCeml
fgTa\@\X]f^\X]BF\EmXUeTTf\ō)#bfb
UbjTZehcTcb_f^\V[\a\X`\XV^\V[`\
bŬa\^‰j^T]T^TefgjT!CbjbWX`gXZb
fcbg^Ta\TUlhWm\Tjfclj\X^T]T^b
jl`!>T]T^\bWU\lbWaTUemXƁTUl
hYbe`bjTŃ^b_h`aōhUXmc\XVmTaŀ
cemXmWj\XbWm\X`bgbebjXJBCE h
beTm`bgbe‰j^ō^b`TaWbeTfcljh
FgTa\fTjTJb_aXZb!HVmXfga\VlWbcl
aō_\WbÇc_TƁlºjeX]ba\X@\]Ta^\
aTjlfc\XCb_\V^\Xŀ^\!Jl_ŀWbjT_\
aTUemXZhZWm\XbWUlTf\ōcemXejT
aT^TaTc^ō!CbcemXej\XhVmXfga\Vleh
fml_\jmWhƁcb`bfghmTTWha^bjXZb
\mTV[bWa\XZbUemXZhjlfclCb_\V^\X
ŀ^\!CbgX`Ulb6\XŬa\al\cbabjaX
jcla\ōV\XaTTec\ōbWfgebal
9BG!J<8F4J:4J8
Claň_\j @\ňWmlaTebWbjl`
Fclj\X>T]T^bjl`cbTec\\
j6[bľgbmTUTjTgbeljT_\mTV]TUlTmTV\ňgT
CTegaXemljlWTa\T
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
@BGBELM46=4
fgebaT""$*
glZbWa\^""$*
BWcbVmlaX^jcbWe‰żl
gJXWhZUTWTa\TTƁ,%cebVXagCb_T^‰jbWcbj\TWTƁXm`ōVmXa\XcbWVmTf]TmWl]XfgcemlVmlaŀ
jlcTW^‰jg6bWehZ\Cb_T^cemlmaT]XƁXUlm`hfmbalWbcemXejTa\T]TmWlmcbjbWhm`ōVmXa\T
CbeTWl
@TeX^=TfmVmlŚf^\
jJXWhZeTcbeghcbaTWcbbjTCb_T^‰jZbgbjT]Xfg^baglahbjTľcbWe‰ż]hżcb^jTWeTaf\X
bWcbVmla^h!ĢeXWa\bVbc\Ļgl^\XebjVTgj\XeWm\żXehfmTjWebZň]hżcb$#`\ahgTV[jlgV[a\Xa\T
eTaalV[!MWTa\X`fcXV]T_\fg‰j
X_X`XageX_T^fh\bWceōƁXa\T
jWhZ\V[geTfTV[]Xfgjf^TmTal!
4gbmXjmZ_ōWhaT^b`Ybeg^\X
ebjVlbeTm]XZbmWebj\X!JXW
hZŬj\TgbjlV[UTWTş^\Xebj
VT^g‰elmTcTWTj`\^ebfXa
cemlceōW^bŬV\$$#^`"[\geTV\
Ŭj\TWb`bŬŃaT&fX^haWlcemX
]XWm\Xjgl`VmTf\XTƁ$##`X
BVmlmT^\Xebja\VĻ_TgX`!Jf^Tm‰j^\
:Wm\XgXeTmmTje‰V\ľ2=Xfg^bcbgW_TV\ňżTe‰jX^
CbeTWl
JVmTf\XjT^TVl]alV[jl]Tm
W‰jfT`bV[bWX`Vmňfgbcb
^bah]X`lfXg^\^\_b`Xge‰j!
7_TUXmc\XVmaX]cbWe‰żlcb
j\aa\ŧ`lmTWUTľbjmeb^
9BG!F854FG<4AJBBFM
j 6b`T`mebU\ľ
jgX]flghTV]\2MaT^
mT^Tmhcb]Tj\Tf\ň
aTZ_X\j`\X]fVh
ZWm\Xa\X`T`
fmTafl
aTmTje‰VXa\X żT_\
f\ňaT`^\XebjVT
V\ňżTe‰j^\^g‰el
cb^bah]XgeTfňmX
FmVmXV\aTWbCb_\V!
FhZXfg\XVmlgX_a\^T
cemX^TżX`l
WbeXYXeTgh
beZTa\mTV]\ehV[h
fmVmXV\Śf^\XZb
`TZ\fgeTgh
ge‰j!Abe`lW_T^\XebjV‰jmT
jbWbjlV[cbWT]ŀƁXWm\Xaal
b^eXfcebjTWmXa\Tcb]TmWhgb
a\XWhƁX]a\Ɓ,ZbWm\aaTWbUō
\gXZbcbj\aa\Ŭ`lf\ōgeml`TŃ!
VleXZ\bahc‰abVab jfV[bW
a\XZb Cb_f^\ `!\a! jb]!
jTe`\şf^b `Tmhef^\X\cbW_T
f^\X\TƁVb$# gTbfbUTWX^_Teh
]XƁXcbWe‰Ɓh]XjgXafcbf‰U!
ATgb`\TfgVbWehZ\`\Xfm^Ta\XV
cbhWa\bjb mTV[bWa\XZbbeTm
cbhWa\bjXZbeXZ\bah`!\a!
jb]!`Tbcb_f^\XŬ_ŀf^\Xbcb_
f^\XWb_abŬ_ŀf^\XcbW^TecTV^\X
WXVlWh]Xf\ōaTflfgX`TglVmaX
cemXejlcbWVmTfZWljeXZ\ba\X
mTV[bWa\`]hƁgl_^bVbgemXV\!
MT_XWj\X&aT$##UTWTalV[
bf‰UebU\WhƁfmXUbb^$ Zb
Wm\aaXcemXejl!Jj\ō^fmbŬV\fŀ
gb`ōƁVmlƀa\cb`\ōWml&(T''
eb^\X`ƁlV\T!ATgb`\TfgTƁ(ceb
VXag m aTf a\X ebU\ cemXejl
jbZ‰_X!
Jjla\^hUTWTşb^TmTbf\ō
gXƁƁXaT]Vmōfgfml``bgljX`
TUlbWcbVmŀŃj geT^V\XWhZ\X]
]TmWlfT`bV[bWX`]XfgmahƁX
a\XcbWe‰Ɓŀ!CbaTWgbj\ōVX]a\Ɓ
cbbj\XUTWTalV[mj\ō^fmbŬV\
eXZ\ba‰jCb_f^\mWTemTbf\ō
cemXejTŃ]TmWōfT`bV[bWX`
mcbjbWhm`ōVmXa\T!g
p
@TeX^=TfmVmlŚf^\
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
>\XebjVT cbj\a\Xa `\XŃ
cbWeō^ŀb^h_TelcemXV\jfb
aXVmaXmcb_TelmTV]ŀ^g‰eXeX
Wh^h]ŀ bWU_Tf^\ cbjfgTX
aTf^hgX^bWU\V\Tf\ōceb`\X
a\fbaXVmalV[bWZTW^\V[cb
j\XemV[a\ gT^\V[ ]T^ `b^eT
]XmWa\T^TebfXe\TfT`bV[bWh
fmlUT\gc!AT_XƁlcT`\ōgTŃƁX
mUlgWhƁXbceTj^\`bZŀbZeT
a\VmlŃcb_Xj\WmXa\Tcbj\ō^
fmT]ŀVfgeXYō`TegjXZbcb_T
_hUfgjbemlŃ^b_X]aXa\Xj\
WbVmaXcha^glTmTV\X`aX
fm^Tha\X`bƁ_\j\ŃbUfXejb
jTa\XWebZ\!7b]TmWlfT`b
V[bWX`jfbaXVmaXWa\aT
WT]ŀf\ōb^h_Telbcbm\b`\X
cemlV\X`a\Xa\TbmaTVmbaX^T
gXZbe\ŀ%_hU&cemlVml`gX
WehZ\X]XWla\Xcemlf\_al`aT
fbaXVma\Xa\h!A\Xcbj\aab
f\ōe‰ja\XƁfgbfbjTŃb^h_T
e‰jmTUTej\balV[aTa\XU\X
f^bVmXejbab_hUm\X_babcb
a\XjTƁ`bZŀbaXcemX^T`l
jTŃ ^b_bel maT^‰j WebZb
jlV[_hUflZaT_\mTV]\!
9BG!4A7EM8=FM>B>6<
=T^jla\^TmeTcbeghcg!Ç>b`
Ybeg]TmWlºcemXcebjTWmbaXZb
aT
m_XVXa\X
>baZfUXeZ
4hgb`bg\iXCehfm^‰jcbaTW
cbbjT^\XebjV‰jc‰abVaX]
Cb_f^\ZbgbjT]Xfg^baglahbjTŃ
cbWe‰Ɓ]hƁcba\XfcXaT$(`\ah
gbjl`bWcbVmla^hTVbc\ŀgl
gj\XeWm\ƁXehfmTjWebZō]hƁ
cb$#`\ahgTV[jlgV[a\Xa\T!
Gl_^bVb$#^\XebjVTmTgeml`h
]Xf\ō]hƁcb$ZbWm\a\XTU_\f^b
cbbjTUTWTalV[ebU\cemXejl
emTWm\X]a\ƁVb&ZbWm\al!JXWhZ
fgTglfgl^cb_\V]\\bchU_\^bjTaX
ZbeTcbeghÇJlcTW^\WebZbjX
j%#$(e!ºmj\al^\Xeh]ŀVlV[cb
]TmWT`\cbjfgTbTƁ%*&#*jl
cTW^‰jVbfgTabj\+%+cebVXag
bZ‰h!Jjla\^hglV[mWTemXş
Ŭ`\XeŃ cba\bfb % #$# bf‰U
mVmXZbTƁ+(bf‰UmZ\aōbmcb
jbWhm`ōVmXa\T"mTŬa\ōV\Tj
(',jlcTW^TV[T+)'mbfgTb
9BG!4A7EM8=FM>B6><
`TeX^!]TfmVmlaf^\3cb_f^TceXff!c_
=XWaT^aTjXggX,ZbWm\a`bƁX
b^TmTŃf\ōmUlgWhZ\Xjceml
cTW^hmlV[jTeha^‰j_hUUeT
^h^b`Ybegh!@bƁX`lgX`hmT
eTWm\Ńfgbfh]ŀVWbfgōcaXaTela
^hebmj\ŀmTa\T^g‰eXcbceTj\ŀ
jTeha^\]TmWl^\XebjVl\cTfT
ƁXeTgT^\X]T^jlcbfTƁXa\XYbgX
_TjflfgX`l`TfTƁhVmljXagl
_TV]\ cbW^eXŬ_T>emlfmgbY;Th^
7leX^gbe:XaXeT_al>baZfUXeZ
4hgb`bg\iXCehfm^‰j!
A\X`T_ƁX*#cebVXageXfcba
WXag‰jUTWTa\TaT]VmōŬV\X]cb
We‰Ɓh]XjgbjTemlfgj\XVmba^T
ebWm\al!CbaTWcbbjōma\V[
fgTabj\ŀ^bU\Xgl!ATclgTa\X]T^
VmōfgbebU\ŀcemXejljVmTf\X
WhZ\X]]TmWlU_\f^bcbbjTUT
WTalV[ebU\]XemTWm\X]a\ƁVb&
ZbWm\al!Gl_^bVb$# gTbfbUT
cemlmaTT ƁX mTgeml`h]X f\ō
cb]hƁ$ZbWm\a\X]TmWlfT`bV[b
WX`!6bVmjTeglUTWTalc_Tah
]Xcbfg‰]jcbbj\XgeTfljlmaT
VmbaX]Wbcb^baTa\TT]XWla\X(
cebVXagcemlmaT]XƁX`bƁX]X
V[TŃVTlWm\Xş_hUVTŀabV\a\X
bWVmhjTm`ōVmXa\T!GhaT]_\Vm
a\X]fmŀZehcōfgTabj\ŀ^\Xebj
j>\XebjVlmjTWĻjmeb^ha\X`T]ĻTgjXZbżlV\T!?TgX`
cbgemXUaXfĻb^hT_elcemXV\jfbaXVmaX
J ]T^\` fgbca\h Ŭj\Tgb
bŬ_Xc\T^\XebjV‰j]XfgfceTjŀ
\aWlj\WhT_aŀ!5TeWm\X]jeTƁ_\
j\fŀ`ōƁVmlƀa\cb'(eb^hƁl
V\T\^bU\XglcbjlƁX]&(_Tg!
FmVmXZ‰_alcebU_X``T]ŀ]XW
aT^bfbUlmjTWT`\jmeb^h!
MT^TWTa\Xmjl^lV[b^h_Te‰j
cemXV\jfbaXVmalV[ aT fb
VmXj^\^bagT^gbjXa\XmTcXj
a\TbV[ebalbVmh!B^h_Tel^b
eX^Vl]aXmYbgbV[eb`X`cemX
maTVmbaXW_T^\XebjV‰ja\X
fcXa\T]ŀWb^bşVTfjb]X]eb_\
cba\XjTƁfgbc\XşcemlV\X`a\X
a\Tfm^\XmTfmlUŀfT`bV[bWh
a\X]XfggT^WhƁl]T^aTmXj
aŀgemcb]TmWh!BfbUlmjTWT`\
jmeb^hWbcebjTWmXa\TfT`b
V[bWhcbj\aalcbf\TWTŃWb
WTg^bjXbWcbj\XWa\bcemlZb
gbjTaX\WbfgbfbjTaXWbjT
Wljmeb^hb^h_TelmfbVmXj^T
`\UTej\bal`\aTfgTXjl^b
aTaXmhjmZ_ōWa\Xa\X`\aWl
j\WhT_alV[^beX^V]\!FŀbaX
UXmc\XVma\X]fmX\mWebjfmXW_T
bVmh!7bWTg^bjbgT^\Xb^h_Tel
cemXV\jfbaXVmaXjlcbfTƁbaX
jY\_gelcb_TelmTVl]aXeXWh^h
]ŀbWU_Tf^\mTcXja\T]ŀVmaTVm
al^b`Ybegj\WmXa\TcbcemXm
_XcfmXcbfgemXZTa\X^b_be‰j
beTmcbceTj\bal^bageTfgbUeT
mh!7ehZTcTeTb^h_Te‰jgba\X
gl_^b WbWTg^bjl ^bfmg T_X
e‰ja\XƁgemXUTfgT_Xba\V[cT
`\ōgTŃ!i
$+""fgebaT
$+""glZbWa\^
FCBEG
CTegaXemljlWTa\T
MEbf]\cemXmE\b
cebfgbWbCb_\V
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
GeX_X@beX_X
=TebfTj
@TeXaWm\T^
AbjlceXmXf
abjTj\m]T
g=he\]@Te\VmXjgbgeXaXe6[X`\^T!JCb_\VTV[Zb]XfmVmXa\X`T bWUhWbjl
8^fgeT^_TfTf\Tg^TeX^
GeXaXe@Te\VmXj-
J^TżWX]flghTV]\
mWm\XjVmňgT`\
gemXUTbUV[bWm\ľ
f\ňbfgebża\X
FXUTfg\TaFmVmlg^bjf^\
fcbeg3Zf%'!c_
a\VT`\jcebjTWmXa\h^bU\Xg
\`ōƁVmlma!7m\TT`mT`\Tfg
`lŬ_XŃVmlgbgehWaXVmla\X!
J^TƁWX]flghTV]\mWm\XjVmōgT
`\gemXUTbUV[bWm\Ńf\ōbfgebƁ
a\X\bWcbj\XWm\T_a\X `‰j\!
=T^bgeXaXeceTVbjTm^_h
UT`\\meXceXmXagTV]ŀ!A\XceT
VbjTaTgb`\TfgcbmTZeTa\VT
`\Ebf]\!@\`bj\X_hWbŬj\TW
VmXş cbfgTj\ j 6[X`\^h
c\Xejfml^eb^!>\XWlj$,++e
mT^TWTab ^_hU j Cb_\VTV[
@Te\VmXjge\h`YbjTjUTe
jTV[6F>4@bf^jT!MXfgb
XVmal`^_hUX`UlgemleTml
`\fgemX`MFEE!
=XƁX_\cb]Tj\f\ōcebU_X`
gbUōWm\X`lceTVbjTŃWm\Xş
\abVTUlcemXTaT_\mbjTŃZb
\fce‰UbjTŃcbceTj\Ń!4a\]T
a\XmT`\XemT`Ta\`b]Xf\Tg
^Te^\cbmjb_ŀ`\jgXWlbWcb
VmŀŃ cemXWfgTj\T Ebf]Ta\a
fjb]ŀY\_bmbY\ō!
j=he\]@Te\VmXjaT eTm\Xf^hc\Tf\ňaTcebjTWmXa\hEbf]TaX^
@Te\VmXj`T()_Tg]Xfg%_T
cbWVmTf<Zemlf^B_\`c\]f^\V[jE\bWX=TaX\eb
gT `bWfml bW :\hfXccX
6hVVTe\a\XZb! FgTefml aTgb
M^eXWlgX`mThYTa\Tcemlfgŀc\ jTZō`\ōWmlV\ōƁ^ŀ\`babgba
aŀceTVŀTgT^ŀ^g‰eTjmUhWm\ `\Tfgb%)_TgbWfjb]XZbcb
j%#$&eWbcemXUhWbjl!
9XWXeTV]T hj\XemlT `\ V\X^TjbŬŃhf\Tg^TeX^ Vlgh]X cemXWa\^T\TflfgXagTmTeTmX`
=T^hUT:hfmT^T! HWTbaT`
\cbj\XemlTcemlZbgbjTa\XeX
@Te\VmXjTV[T`c\baTg!Vb`!
ceXmXagTV]\!GbfT`bjfbU\X
JcemXfmbŬV\a\XmTj\‰W f\ōmTgehWa\ŃUTeWmbWbŬj\TW
VmbaXZbgeXaXeT!J\Xeml`lƁX
bVmX^\jTşcebjTWmŀVWehƁl
]XfgmTfmVmlgX`\bWcbj\XWm\T_
abŬV\ŀ!M`\TaTjƁlV\hjlfmT aō ]ha\be‰j Wb `\fgembfgjT cemlVmla\f\ōWbbf\ŀZa\ōV\TVX
Ŭj\TgT!Jf\Tg^‰jVXƁXşf^\X] _‰j^g‰eXjlmaTVml`lWehƁl
`\aTWbUeX!CbcV[aōTWbfmh
mU\XeT WbŬj\TWVmXa\T ]T^b a\XcemXWebmcbVmōV\X`ebmZel
^Ta\TabjlV[ebmj\ŀmTş\fcb
fbU‰jUlebmj\]TŃf\ō]T^bgeX
bc\X^ha7laT`T>eTfabWTe! jX^ chXagh]X4WT`>h_U\X]
ceXmXf^_hUh!i
A\XmTfgTaTj\T`f\ōaTWe‰Ɓ
aXe!@hf\TX`maT_XƀŃe‰jab
9BG!9<I5
Ebf]Ta\acbjeTVTWbVbWm\Xa
aX]ceTVlj^_hU\X! CemlmaT`
fmVmXemXƁXa\XUlb`\Tgjb
UXm bUbj\ŀm^‰j j ^_hU\X!
AT
cbVmŀg^h
VmhX`
Wlf^b`Ybeg\a\Xcb^‰]!JlWT
jTb`\f\ōƁXgeTVōVmhV\Xf\Tg
^‰j^\!Fmh^TX`]T^\V[ŬmT]ōŃ
mTfgōcVmlV[Ulgeml`TŃf\ō
jWbUeX]Ybe`\X bcbj\TWT
@Te\VmXjj%#$(e^\XWlbW
fmXWmXfjb]XZbcbcemXWa\XZb
^_hUh7laT`T@bf^jT\f^ba
VXagebjTf\ōaTcebjTWmXa\h
eXceXmXagTV]\Ebf]\^bU\Xg!
Jgl`fT`l`VmTf\XEbf]Ta
^\mWbUllWehZ\XmemōWh`\
fgembfgjb8hebcl!BWgXZbVmT
fh`lŬ_\@Te\VmXjTfŀf^\XebjT
aX aT mU_\ƁT]ŀVX f\ō \Zemlf^T
jE\bWX=TaX\eb!6X_`\a\`h`
]T^\cbfgTj\TfbU\XFUbeaTgb
`XWT_X!7bghea\X]hWbfgTbf\ō
$%WehƁla'm8hebcl!
CbcbjebV\Xm5eTml_\\fm^b
_Xa\bj\XVmT]`\Xf\ōcemlZbgb
jTa\X`WbfXmbahf\Tg^TeX^
6[X`\^TCb_\VX!
Ebf]Ta^\bWcTWlmcbcemXW
a\V[ \Zemlf^ j ?baWla\X
jŃj\XeŃY\aT_X^g‰elcemXZeT
lm5eTml_\ŀaTcemXjTZ\jg\X
UeXT^h!Jgl`fT`l``\Xf\ŀ
Vh fX_X^V]baXe F\XeZ\X]
BjVmlaa\^bjm`TegeTZ\Vm
a\X!9XWXeTV]TebmcbVmōTcb
fmh^\jTa\TaTfgōcVl\bWeTmh
@Te\VmXjUlaT]VmōŬV\X]jl
`\Xa\Tal`YTjbelgX`!
=XZb^TaWlWTgheōcbcTeb
f\XW`\hmbŬ`\hZbfh]ŀVlV[!
M
TV[bWa\bcb`bef^\X
TFmVmXV\ajfmVmXZ‰_abŬ
V\`TWbVmXZbaTj\ŀml
jTŃ]XŬ_\V[bWm\bf\Tg^‰j^ō
aTaT]jlƁfml`cbm\b`\X!Gb
ghcemXW_TglZeTTFgT_mWbUl
jT]ŀVWjh^ebga\X`\fgemb
fgjbCb_f^\!JCb_\VTV[aTUT
m\XeXceXmXagTagX^Cb_f^\]h
a\beX^fgjbembabgXƁcemXW_T
glWehƁlaō`TemXş·f\ōZT]ŀVŀ
fXel]a\XcbChV[Te\`\fgemb
fgjbCb_f^\!B\_X]XWaT^f\ō
6[X`\^ThWTbf\ōeXT^gljb
jTŃbgl_Xf\Tg^‰j^T`ōf^T
aT_TgTfgTTf\ōbWmj\XeV\XW_X
a\X`YT^glVmaXZbfgTahWl
fVlc_\aljeXZ\ba\X\]X]maT
VmXa\TjXjTWmTV[Cb_f^\XZb
Mj\ŀm^hC\^\F\Tg^bjX]!
TfmmTjfmX`bVabeXceX
mXagbjTalbŬebWX^jel
jT_\mTV]\V[bŃUlf\Tg^Temlc_T
ƁbjlV[aTgXZbebVmalChV[Te
5Tgl^h^TWXV\\]ha\bemlUl
jfgTa\XjlfgTj\ŃWj\XcTel
ATfmVmōŬV\Xgbf\ōjgX]V[j\_\
aTCTşfgjTbVmTV[m`\Xa\T!
FgXelmj\ŀm^hcemX]ō_\_hWm\X
^g‰emlmj\ŀmTa\fŀmf\Tg^‰j^ŀ
ceT^glVma\XbWmTjfmX!<V[mT
WTa\X`]Xfga\Xgl_^bcbceTjT
j\mXeha^hT_XcemXWXjfmlfg
^\`fgjbemXa\XcbWfgTj
WbjTŬV\jXZbYha^V]babjT
a\TgXZbfcbeghjcemlfmbŬV\!
Jgl`VX_hcbgemXUaX]Xfg
jfc‰Wm\TTa\XVTXZbŬebWb
j\f^Tjfc‰_aXT^V]Xceb`b
Vl]aXaT]f\_a\X]fmlV[bŬebW
^‰jjeXfmV\XUhWbjTmTc_X
VmTcbmjT_T]ŀVXZbaTjTŬV\
jXŀVmXa\XaTh^\mmT]ōV\T`\
fcbegbjl`\j^ba^eXgalV[
fm^bTV[!AbjXjTWmXMMCF
mUll`eXceXmXagTagX`Cb_
f^\mTfgXeX`=T^hUX`@Te^\X
j\VmX`fjb\`\cb`lfT`\
\mTTaZTƁbjTa\X`mebU\l
A
jeTƁXa\XaTVXageT_\fgŀWgT^
fmXeb^TbUXVabŬŃ\V[cemXW
fgTj\V\X_\jfgeh^gheTV[
mj\ŀm^h!
TWm\Ŭf\ŀfceTjVmŀ`T]ŀ
UlŃjfc‰_aXWm\TTa\T
Wj‰V[aT]f\_a\X]fmlV[bZa\j·
`\fgemlşCb_f^\^bU\Xg6[X`\
^TCb_\VX\UXa\T`\a^TC_hf?\
Z\8fcTWbahFmVmXV\a!Jla\
^T]ŀmgXZbbVmlj\ŬV\XgT^ƁX
^ba^eXgaXehV[lcXefbaT_aX!
Abjl`ceXmXfX`6[X`\^T
mbfgTCTjX9eTa^bjf^\!Cb
fgTj\babaTVmbj\X^T^g‰eX
`hbW_Tgf\Tg^‰j^T]XfgUTe
WmbU_\f^TfXeVh!5llZeTVm
@TeTgbahħj\abh]ŬV\X9_bgl
ħj\abh]ŬV\X\4MFFmVmXV\a!
@Tjfjb\`WbebU^hglgh
T^TWX`\V^\XZb`\fgemTCb_f^\!
JaT]j\ō^fmX]j^eT]h4`T
gbef^\X]?\WmXC\^\F\Tg^bjX]
jFmVmXV\a\XceT^glVma\Xa\X
cemXejTa\XZeTbW%(_Tg!AT]
jTƁa\X]fmX]XWaT^ƁXbWcb
Vmŀg^hhVmXfga\VmlgXƁjceT
VTV[mj\ŀmTalV[mbWUhWbjŀ
f\lWlfVlc_\al!BeZTa\mTgbe
^_hUhfcbegbjXZb5lf^Tj\VT
·8fcTWba^g‰elZeTaTcbm\b
`\X_\Z\<<<!ATfgōca\XmTbƁl
V\X_\VmbaX^fgbjTemlfmXa\T
8fcTWbaFmVmXV\aZWm\X
WbVmTfhTjTafhWbC_hf?\Z\
ceTVbjTe‰ja\XƁj^b`\f]\
eXj\ml]aX]!A\X]XfggT]X`a\Vŀ
ƁXcbTjTaf\XWbX^fgeT^_Tfl
^_hU`hf\mTbƁlŃfc‰^ōT^
Vl]aŀ!<gT^f\ōWm\X]XT_X
\jglV[f^b`c_\^bjTalV[
ceTVTV[hWm\TUeTCTjX
9eTa^bjf^\UōWŀVVmba^\X`
ETWlATWmbeVmX]>CF8fcTWba
FmVmXV\aF!4!7lfVlc_\aTa\X
`Tj\XVcemXWa\`gT]X`a\V!
hWh]ŀVabjŀ`Te^ōf\Tg
^‰j^\jeXZ\ba\XV[VX`l
ceTVbjTŃm_hWƀ`\cXal`\cT
f]\mTTaZTƁbjTa\TT_XgXƁeb
mh`\X]ŀVl`\jTegbŬV\]T^\XbaT
a\Xf\XmXfbUŀ!@T`cXaXmTh
YTa\XƁXabjlceXmXf6[X`\^T
gXjTegbŬV\`TjfXeVh·`‰j\
ceXmXfMTV[bWa\bcb`bef^\XZb
Mj\ŀm^hC\^\F\Tg^bjX]=T^hU
@Te^\Xj\Vm!CemXWabjl`ceX
mXfX`bZeb`ceTVl!F\Tg^TemX
gbcemXWXjfmlfg^\`_hWm\X
hcTeV\·]XŬ_\`Tf\ō^b`hŬ
hWTŃgbjTŬa\X\`!>gbŬ^gb
mT^bV[Tf\ōjf\Tg^‰jVX·cb
mbfgT]X]X]j\XealaTmTjfmX!i
A
5
Cb^TWemXVmTfmUhWbjTľYbe`ň!6[X`\^Cb_\VXhcebZhcemlZbgbjTŚ
8^fgeT^_TfTf\Tg^TeX^
6[X`\^Cb_\VXebmcbVma\X
cemlZbgbjTa\TWbabjXZbfX
mbahjcbbj\Xf\Xeca\T!F\Tg
^Te^\`bżaTfcbg^TľVbeTm
VmňŧV\X]j4mbgl4eXa\X
FXUTfg\TaFmVmlg^bjf^\
fcbeg3Zf%'!c_
@\fgemla\XCb_f^\mT^bşVmllY\
aT Be_Xa ?\Z\ j ^bşV‰jVX
^j\Xga\T!M cbVmhV\X`WbUemX
jl^baTalV[mTWTş\mgemX`T
gebYXT`\ebmcbVmōljT^TV]X!
CbcemXWa\fXmbaUlW_Tf\Tg^T
eX^\agXafljal!GT^ƁXjaT
fgōcal`UōWŀjT_VmlŃj^eT]h
\j?\WmX@\fgemlş!$(f\Xeca\T
ebmcbVmaŀjfc‰_aXgeXa\aZ\!
7jTWa\jVmXŬa\X]f\Tg^Te
^\je‰VŀWb^_hUh!6mōŬŃŃj\
Vml]hƁjf\bja\j4mbgl4eX
a\X!GX^g‰eXZeTlj6[X`\^h
fcbg^T]ŀ f\ō m cbmlf^Tal`\
jb^\Xa^hgeTafYXebjl`!7eh
Ɓlaōjm`bVa\lWbglV[VmTf
=X_XaT5_TZb]Xi\Ń4_X^fTaWeT
>embf@T_j\aTF`TemX^\>T
gTemlaT MTebŬ_\şf^T! Gl_^b
FXeU^T a\X ZeTT jVmXŬa\X]
jBe_Xa?\WmX!
7ehƁlaōVmX^Tfcbg^Ta\X
beZTa\mTVl]aXcbWVmTf^g‰eX
ZbcbmaTfmVmXZ‰lcemlZbgb
jTş!C_Tajfc‰gjbemlabjl
geXaXe=he\]@Te\VmXj!
BUbj\ŀm^\jmXfcb_XaTeb
Wbjl``T]ŀebmZeljT]ŀVT=b
TaaT Jbbfm TgT^h]ŀVT
@T_j\aTF`TemX^\ŬebW^bjT
FgXYTaTIX_]^bi\ŃW_TgXZbje‰
Vŀc‰ƀa\X]aTCb`bemXMTV[bW
a\X!J\TWb`b]XWaT^ƁXWeh
ƁlaTa\XUōWm\Xjb^eXf\Xceml
ZbgbjTşgT^mWm\Xf\ŀg^bjTaT
]T^eb^gX`h!J‰jVmTfcbaTW
cbbjTf\Tg^TeX^UlTaTmZeh
cbjTa\heXceXmXagTV]\!
Jgl`fXmba\XmeXmlZab
jT_\Ŭ`lmjl]TmWhaTbU‰m!
J4mbgl4eXa\X`T`ljfmlfg
^bVmXZbcbgemXUh]X`l mT
cXja\TETWbfTj4a\bWl
eX^gbemTemŀWmT]ŀVl^_hUh! Cb
f\TWT`ljTfaŀŬj\Xga\Xjl
cbfTƁbaŀf\bja\ō!CbWm\X_baŀ
aT fX^gbel [T_ō fcbegbjŀ
TgT^ƁXfcXV]T_\fglVmaXhemŀ
WmXa\TWbgeXa\aZhf\Tg^Tef^\X
Zb!A\XWT_X^bbU\X^ghfŀUb\f^T
Wbf\Tg^‰j^\c_TƁbjX]\UTfXa!
Cb ^bafh_gTV]\ mX fmgTUX`
fm^b_Xa\bjl` cbfgTabj\_\
Ŭ`lƁXb^eXfcemlZbgbjTjVml
cemXceTVh]X`lhf\XU\X!
6[X`\^bchŬV\aTfmeXZ\ba
V[bŃUljXjemXŬa\h!JXƀ`\X
hWm\Tjghea\X]h8aXeZT6hc
j5bUb_\VTV[!GT`m`\Xemlf\ō
mgemX`T_\Zbjl`\eljT_T`\
CGCFC\TCTTVX`5lWZbfmVm
\?XZ\babi\ŀ?XZ\babjb!CXj
aX ]Xfg cbaTWgb ƁX Wb]Wm\X
Wb`XVmhceml]Tƀa\mM4>Fü
>ōWm\Xemla >bƀ_X!Gl`eTmX`
aT jl]XƀWm\X! BUT ^_hUl fŀ
fcbafbebjTaX cemXm :ehcō
4mbgl!6[X`\^]XfgaT]_Xcfml`
mXfcbX` ƁXşf^\` j ^eT]h
TM4>F4`ōf^\`!
?\c\XVcemla\‰fm`\TaljX
jTWmTV[^_hUh!ETWTATWmbe
VmT j f^TWm\X =‰mXYT
ļheTjf^T=bTaaT>Teb_Vmh^
>emlfmgbYFbUb_Xjf^\\@Te\hfm
E‰ƁlV^\jlUeTTaTceXmXfTCT
jT 9eTa^bjf^\XZb! J cb
cemXWa\V[fXmbaTV[^_hUX`
WbjbWm\T=bTaaTļhebjf^T!
CbW]X]c\XVmŀ6[X`\^mWbUl
f\XWX`gebYX‰jjCb_fVX!
M`\TalcXefbaT_aXjmT
emŀWm\Xa\XbmaTVmT]ŀgemōf\X
a\Tm\X`\j^_hU\X mTcbj\X
Wm\T9eTa^bjf^\jebm`bj\X
mbY\V]T_al`fXej\fX`^_hUh!
=XfgX`mTWbjb_balƁX`bZō
ebmcbVmŀŃceTVōj6[X`\^h!
6\Xfmōf\ōƁXbgTVmT]ŀ`a\X
jTegbŬV\bj\_hWm\Xm^g‰el`\
UōWō`‰ZceTVbjTŃ!GXeTmmT
VmlaT`lWŀƁlŃWbeXT_\mTV]\VX
_‰j^g‰eXj cemlcTW^h`\
fgemTCb_f^\`bZŀUlŃgl_^baT]
jlƁfmX! ip
CTegaXemljlWTa\T
:bfCb_\V
C\ĻgX^%,_\cVT%#$)
FCBEG
fgebaT""$,
glZbWa\^""$,
AbjTUTmT\cbje‰gÂ;b^Tµ
@ThelVl5eml^Vl
`ThelVl!Ueml^Vl3cb_f^TceXff!c_
GXZbebVmaTXWlV]T5T]TCb_TaW
cbmlf^TTabjXZbcTegaXeTgl
gh_TeaXZb ^g‰el` mbfgTT
6b_h`aT@XW\VT!M`\Xa\baT
\WhƁfmTbcbaTW+#^`]Xfg
gT^ƁXgeTfTeT]Wh^g‰eTf^TWT
mf\XW`\hTa\Xc\ōV\hce‰U
fcbegbjlV[! >_TflVmaX WjT
bWV\a^\aTcb_\Zba\XWeTjf^\`
_\Vmŀjfh`\X&(#^\_b`Xge‰j
cbaTW )# ^` j\ōVX] a\Ɓ
cemXWeb^\X`!
6b_h`aT@XW\VT5T]TCb
_TaW%#$)gbf\‰W`TehaWTCh
V[Tehħj\TgT9<4jET]WTV[GX
eXabjlV[^g‰eljgl`eb^h
f^TWTf\ōmWm\Xj\ōV\hX_\`\aT
V]\!Cb_f^\gXeXabjl^_Tfl^mb
fgTa\XebmXZeTal]hƁcbeTm‰f
`lmemōWhTcbeTmc\ŀglaT]
j\ō^fmleT]WgXeXabjljaT
fml`^eT]h]Xfg`\X]fVX`eljT
_\mTV]\bVXaaXcha^gljChV[T
emXħj\TgTaT]jTƁa\X]fml`Vl
^_hjgX]WlfVlc_\a\Xfcbeg‰j
`bgbebjlV[!<`ceXmTmUTmŀ
jFmVmXV\a\X\bWV\a^T`\fcX
V]T_al`\jb^b_\VTV[7bUeX]
?hU\XfmlaTbeTmaTcb_\Zba\X
j7eTjf^hCb`bef^\`jlfgTe
gh]Xjc\ŀgX^%)f\Xeca\TjZb
Wm\aTV[cbcbhWa\bjlV[TmT
^bşVmlf\ōja\XWm\X_ō!GeTfT
eT]Wh_\Vml*++^\_b`Xge‰jfcb
Ŭe‰W^g‰elV['*%^`fgTabj\ŀ
bWV\a^\fcXV]T_aX!
6b_h`aT@XW\VT5T]TCb
_TaW%#$)gbgT^ƁXehaWT@\
fgembfgj 9<4 FgeXYl 8hebcl
6XageT_aX]jET]WTV[GXeXab
jlV[9<4 68MET]WbjlV[
@\fgembfgjCb_f^\FT`bV[b
W‰jGXeXabjlV[E@CFG@\
fgembfgj EXchU_\^\ 6mXf^\X]
j ET]WTV[ GXeXabjlV[
@@6E\ET]WbjXZbChV[Teh
Cb_f^\FT`bV[bW‰jGXeXab
jlV[ECCFG!E‰jab_XZ_Xmb
fgTaŀcemXcebjTWmbaXe‰ja\XƁ
mTjbWl`bgbVl^_bjXmT_\VmT
aXWbChV[TehCb_f^\jET]WTV[
5T]TCCE5!BeZTa\mTgbemlfcb
Wm\XjT]ŀf\ōaTfgTeV\XcbaTW
fgheT]WbjlV[fT`bV[bW‰j
9BG!4A7EM8=FM>B6><
gFcbegbjleb^jeXZ\ba\Xa\X`‰Zf\ōbUX]ŬŃUXmaT]j\ō^fmX]j^eT]h\`ceXmlfcbeg‰j
gXeXabjlV[gET]W5T]TCb_TaWfjb]XbWV\a^\fcXV]T_aXUōWm\X`\TcbeTm^b_X]alj7bUeX]
j5T]TCb_TaWmTjfmXjlZ_ĻWTUTeWmbXYX^gbja\X!BWV\a^\fcXV]T_aXj7bUeX]bZ_ĻWTfcbeb^\U\V‰j!
>gb]XWaT^UňWm\XV[V\TbUX]emXľm`TZTa\TmT‰ZaT żljb`hf\WbfgbfbjTľf\ňWbeXZh_T`\ah
V\ōƁTe‰jX^
`bgbVl^_\
dhTW‰jbeTmcb]TmW‰jHGI!
Abjŀ _b^T_\mTV]ō `T]ŀ
j gl` eb^h U\heT eT]Wh
Abeg[XTfg@Te\aTaTjlfc\X
:ebWm^\X]beTmcTe^fXej\fbjl
\ `\TfgXVm^b eT]WbjX ^g‰eX
maT]Wŀ f\ō aT cbU_\f^\X]
Tfmgbja\!HebVmlfglfgTeg\`
ceXmlcemlJTTV[6[ebUeXZb!
ET]WmT\aThZheh]XfhcXebXf
mXfgTegX`\`Xgŀcemlh_\Vl
FmTYXeTT_XjVmXŬa\X]fgTegh]ŀ
VXmTbZ\jXm`ŀhWm\TjbW
V\a^hgXfgbjl`^g‰elmbfgTa\X
cemXcebjTWmbaljcbU_\ƁhgeT
flfhcXebXfh!BWV\aX^gXfgbjl
gbgXZbebVmaXabih`jChV[T
emXħj\TgT^g‰eXcbmjT_TmT
jbWa\^b` aT hfgTj\Xa\X
\ fceTjWmXa\X fT`bV[bWh
aTmT`^a\ōgX]\mTUXmc\XVmbaX]
cemXmbeZTa\mTgbeTgeTf\X!Jfb
UbgōaThVmXfga\^‰jVmX^T]ŀ
Wj\Xjl`TZT]ŀVXce‰UlaTcb
_\Zba\Xjb^b_\Vl7eTjf^TCb
`bef^\XZbWb^g‰eXZbjgl`
Wa\hcemXabf\f\ōe‰ja\XƁcTe^
fXej\fbjl!Ge\h`YTgbe‰jeT]
WhcbmaT`lja\XWm\X_ōcbeb
mXZeTa\h^b_X]alV[VmgXeXV[
ce‰UfcbegbjlV[bWhZbŬV\cb
aTW$$(^\_b`Xge‰jcemXU\XZT
]ŀVlV[Z‰ja\XjZ`\a\X7b
UeT!
AT]j\ōVX]mjlV\ōfgjj5T
]TCb_TaW`TaTfjb\`^baV\X
>emlfmgbY ;bbjVmlV ^g‰el
c\ōV\b^ebga\X%#$#%#$$%#$%
%#$' %#$( ge\h`YbjT
jFmVmXV\a\X!Cb]XWaX]jlZeT
aX]bWabgbjT_\jfjb\V[fcbe
gbjlV[ ƁlV\belfTV[ 5T_Tmf
FmT_Tl m JōZ\Xe %##, beTm
4_X^fTaWXe ļXhWbj m Ebf]\
%#$&! ;bbjVmlV ^g‰el
aT`XV\XhU\XZbebVmaXZbeT]
Whcb\aYbe`bjTbmT^bşVmX
a\h^Te\XeljeT]WTV[gXeXab
jlV[c_Tah]X]XWaT^fgTeggT^
ƁXjgl`eb^hcbWbUa\X]T^
@TeX^ 7ŀUebjf^\ \ >hUT
CemlZbşf^\!g
%#""fgebaT
%#""glZbWa\^
E8>?4@4
CTegaXemljlWTa\T
:bfCb_\V
C\ĻgX^%,_\cVT%#$)

Podobne dokumenty

Głos Polic

Głos Polic MT6[X`\^\X`Cb_\VXUTeWmbhWTal`\Xf\ŀV!MX fc‰geXaXeT=T^hUT:hfmT^TbWU\fbU\Xa\Xcb jbWmXa\Xj ?\WmX@\fgemlş\jlZeTChV[TeCb_ f^\!J9\aT_9bheebmZeljX^aTfmTWehƁlaTaT] c\Xejcb^baT...

Bardziej szczegółowo